The American breakfast cereal giant Kellogg said on Tuesday that it plans to divide its operations into three separate companies, each of which is listed on a stock exchange. The new structure will include a group selling international snacks, cereals, and frozen breakfasts in North America, a grain-focused company in the United States, Canada, the Caribbean, and, finally, a vegetarian company. product sale.
Kellogg aims to complete Spinoff by the end of 2023North America Ceral Co.«Եւ»Plant Co.subject to the approval of the US regulators. The new companies will be named accordingly “Global Snacking Co.»,«North America Ceral Co.«Եւ»Plant Co.Said Kellogg.
Shares of Kellogg listed on the New York Mercantile Exchange rose about 8% before the opening of Wall Street. Each of the new entities has “Significant independent potential ացված enhanced focus will allow them to better direct their resources to their specific strategic prioritiesA statement from Kellogg CEO Steve Cahlaine said:
Kellogg, known for its Corn Flakes, Frosties, Honey Pops և Special K grains, said the companies would retain their headquarters. In the United States, a company that sells cereals in Canada, as well as plant-based products, will be based in Battle Creek, Michigan. The internationally based company will have its headquarters in Chicago (Illinois) and one university in Bethel Creek. Shares of Kellogg listed on the New York Mercantile Exchange rose about 6% before the opening of Wall Street in e-commerce.
“Significant potential”
Each of the new entities has “Significant independent potential ացված enhanced focus will allow them to better direct their resources to their specific strategic priorities“Kellogg CEO Steve Cahlein said in a press release. «The goal of every company will be to create added value for all stakeholders, և each has a good position to innovate կառուց to build a new era of growth.Mr. Cahlaine continued.
The history of Kellogg, the iconic brand of millions of homes, dates back to 1894, when the American manufacturer WK Kellogg founded the company.Corn flakesbefore opening in 1906Battle Creek Toasted Corn Flake Company:“Which was later renamed”Kellogg Company:«. Founded in 180 countries, the agri-food giant, in addition to its famous grains, produces crispy Pringles, Cheez-It cheese crackers, Pop-Tarts stuffed pastries և Eggo frozen waffles.
He owns plant-based brands, including MorningStar Farms, Gardenburger and Kashi. Its revenue in 2021 amounted to 14.2 billion dollars, and annual revenue – 1.8 billion dollars. Other major US companies have announced their split in recent months. This was the case last November for General Electric’s Johnson & Johnson Pharmaceutical Group.
Source: Le Figaro
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