Kellogg on track with plan to split into two publicly traded companies in Q4

Kellogg Co. K said Wednesday it’s on track with its plan to separate into two publicly traded companies in the fourth quarter. In a statement released ahead of an investor day, the company said its North American cereals business will be folded into the new WK Kellogg Co., which will trade under the ticker ‘KLG.’ The rest of the business will be folded into a company to be called Kellanova that will continue to trade under the current ticker ‘K.

, which will trade under the ticker ‘KLG.’ The rest of the business will be folded into a company to be called Kellanova that will continue to trade under the current ticker ‘K.’ Kellanova is expected to generate sales of about $13.4 billion to $13.6 billion in 2024 and adjusted per-share earnings of $3.55 to $3.65. “Kellanova will feature a portfolio weighted toward snacking, with a global footprint and significant presence in fast-growing emerging markets,” the company said.

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