The Associated Press reports:
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 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.
Kellogg’s had net sales of $14.2 billion in 2021, with $11.4 billion generated by its snack division, which makes Cheez-Its, Pringles and Pop-Tarts, among other brands.
Read the full article.
Kellogg will split into three companies: a cereal maker, a snack maker and a plant-based food company. Kellogg, whose brands include Eggo waffles and Rice Krispies cereal, said the planned spinoffs are expected to be completed by the end of 2023. https://t.co/pr2HoA45KP
— The Associated Press (@AP) June 21, 2022