{"id":19636,"date":"2022-06-21T07:30:18","date_gmt":"2022-06-21T14:30:18","guid":{"rendered":"https:\/\/marketdepth.com\/?p=19636"},"modified":"2022-06-21T07:30:19","modified_gmt":"2022-06-21T14:30:19","slug":"kellogg-announced-a-split-into-three-different-companies","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/kellogg-announced-a-split-into-three-different-companies\/","title":{"rendered":"Kellogg Announced a Split into Three Different Companies"},"content":{"rendered":"\n
Kellogg (NYSE: K)<\/strong> revealed Tuesday that it is set to split into three different companies, ultimately dividing its brands into snacking, cereal and plant-based businesses. The company’s shares skyrocketed 6.5% during premarket trading amid the news.<\/p>\n\n\n\n \u201cKellogg has been on a successful journey of transformation to enhance performance and increase long-term shareowner value. \u201cThese businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities.\u201d<\/p>Kellogg CEO Steve Cahillane<\/cite><\/blockquote>\n\n\n\n The company believes the moves will be finalized by the end of 2023. Both Kellogg\u2019s plant-based sector and its North American cereal business brought in approximately 20% of it revenue last year. The rest of the business involves snacks, noodles, international cereal and North American frozen breakfast brands.<\/p>\n\n\n\n \u201cAfter several years of transformation and improving results, the Company believes it is the right time to separate these businesses so they may pursue their particular strategic priorities.\u201d<\/p>Kellogg Commented<\/cite><\/blockquote>\n\n\n\n The company that earned USD11.4 Billion in revenue last year, will hold brands such as Pringles, Cheez-It, Pop-Tarts and RXBAR. Nevertheless, according to Cahillane, the snack company remains interested in adding to its portfolio amid acquisitions.<\/p>\n\n\n\n Cahillane noted that Kellogg has yet to decide on how it will divide up its dividend throughout the three companies.<\/p>\n","protected":false},"excerpt":{"rendered":"Kellogg (NYSE: K) revealed Tuesday that it is set to split into three different companies, ultimately dividing its brands into snacking, cereal and plant-based businesses. The company’s shares skyrocketed 6.5% during premarket trading amid the news. \u201cKellogg has been on a successful journey of transformation to enhance performance and increase long-term shareowner value. \u201cThese businesses… View Article<\/a>","protected":false},"author":3,"featured_media":19637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[10,31,12,16],"tags":[],"acf":[],"yoast_head":"\n