Kellogg to split into 3
The Canadian Press – Jun 21, 2022 / 6:20 am | Story: 372505
Photo: CTV News
Kellogg Co., the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, snacks and plant-based foods.
Kellogg’s which also owns and MorningStar Farms, the plant-based food maker, said Tuesday that the spinoff of the yet to be named cereal and plant-based foods companies should be completed by the end of next year.
The company’s corporate headquarters will move from Battle Creek, Michigan, to Chicago, but it will maintain dual headquarters in both cities for its snack company, which makes up about 80% of current sales. Kellogg’s three international headquarters in Europe, Latin America, and AMEA will remain in their current locations.
Companies have begun to split up at an accelerated pace, including General Electric, IBM and Johnson & Johnson, but such splits are more rare for food producers. The last major split in the sector was in 2012, when Kraft split to create Mondelez.