Kellogg's Decision to Split Into 3 Companies Sends Stocks Climbing
- 2 years ago
Kellogg's Decision, to Split Into 3 Companies , Sends Stocks Climbing.
NPR reports that Kellogg Co. will split
into three different companies focused
on cereals, snacks and plant-based foods.
NPR reports that Kellogg Co. will split
into three different companies focused
on cereals, snacks and plant-based foods.
On June 21, the company said that
the spinoffs for their cereal and plant-based
food products have yet to be named.
On June 21, the company said that
the spinoffs for their cereal and plant-based
food products have yet to be named.
The company expects the split
to be completed by the end of 2022.
In 2021, Kellogg saw net sales of $14.2 billion.
$11.4 billion of that net total
was generated by
the company's snack division.
Kellogg's cereal division accounted
for $2.4 billion in sales, while plant-based
sales brought in about $340 million.
Kellogg's cereal division accounted
for $2.4 billion in sales, while plant-based
sales brought in about $340 million.
These businesses all have significant
standalone potential, and an enhanced
focus will enable them to better
direct their resources toward
their distinct strategic priorities, Steve Cahillane, Kellogg CEO, via NPR.
These businesses all have significant
standalone potential, and an enhanced
focus will enable them to better
direct their resources toward
their distinct strategic priorities, Steve Cahillane, Kellogg CEO, via NPR.
NPR reports that Cahillane will become the chairman and CEO of Kellogg's snack division.
The company is reportedly looking
to explore options for its plant-based business,
which includes MorningStar Farms.
News of the split sent shares in Kellogg
up 8% in early trading to reach $73.29.
The announcement comes as the industry faces rising costs due to Russia's invasion of Ukraine and U.S. inflation reaching a four-decade high.
The announcement comes as the industry faces rising costs due to Russia's invasion of Ukraine and U.S. inflation reaching a four-decade high
NPR reports that Kellogg Co. will split
into three different companies focused
on cereals, snacks and plant-based foods.
NPR reports that Kellogg Co. will split
into three different companies focused
on cereals, snacks and plant-based foods.
On June 21, the company said that
the spinoffs for their cereal and plant-based
food products have yet to be named.
On June 21, the company said that
the spinoffs for their cereal and plant-based
food products have yet to be named.
The company expects the split
to be completed by the end of 2022.
In 2021, Kellogg saw net sales of $14.2 billion.
$11.4 billion of that net total
was generated by
the company's snack division.
Kellogg's cereal division accounted
for $2.4 billion in sales, while plant-based
sales brought in about $340 million.
Kellogg's cereal division accounted
for $2.4 billion in sales, while plant-based
sales brought in about $340 million.
These businesses all have significant
standalone potential, and an enhanced
focus will enable them to better
direct their resources toward
their distinct strategic priorities, Steve Cahillane, Kellogg CEO, via NPR.
These businesses all have significant
standalone potential, and an enhanced
focus will enable them to better
direct their resources toward
their distinct strategic priorities, Steve Cahillane, Kellogg CEO, via NPR.
NPR reports that Cahillane will become the chairman and CEO of Kellogg's snack division.
The company is reportedly looking
to explore options for its plant-based business,
which includes MorningStar Farms.
News of the split sent shares in Kellogg
up 8% in early trading to reach $73.29.
The announcement comes as the industry faces rising costs due to Russia's invasion of Ukraine and U.S. inflation reaching a four-decade high.
The announcement comes as the industry faces rising costs due to Russia's invasion of Ukraine and U.S. inflation reaching a four-decade high