Kellogg (K) Announces Separation Of Two Businesses
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KELLOGG COMPANY ANNOUNCES SEPARATION OF TWO BUSINESSES AS BOLD NEXT STEPS IN PORTFOLIO TRANSFORMATION
June 21, 2022 7:00 AM EDTThe Company plans to separate into three independent companies, by spinning off its U.S., Canadian, and Caribbean cereal and plant-based businesses, which collectively represented approximately 20% of its net sales in 2021The remaining business, which represented about 80% of net sales in 2021, is focused on global snacking, international cereal and noodles, and North America frozen breakfastThis transaction represents another bold action toward transforming Kellogg's portfolio to further enhance performance and valueThe proposed separations create greater strategic, operational, and financial focus for each company and its stakeholders, and will build on... More
