Kellogg to Divide Into Three Companies Focusing on Snacks, Cereal, and Plant-Based Foods Respectively
Kellogg Company has announced a plan to separate into three independent public companies to focus on snacks, cereal, and plant based foods The Board of Directors has approved a plan to create three independent public companies, allowing them to focus on their specific potential. Kellogg's which also owns and MorningStar Farms, the plant-based food maker, said that the spinoff of the yet to be named cereal and plant-based foods companies should be completed by the end of next year. "These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities," Kellogg CEO Steve Cahillane said in a statement. "In turn, each business is expected to create more value for all stakeholders, and each is well positioned to build a new era of innovation and growth."