Kellogg to Split into 3 Companies; Corporate HQ for High-Growth Snacks Company Coming to Chicago

This is a display of Kellogg’s Frosted Flakes cereal at a Costco Warehouse in Homestead, Pa, on Thursday, May 14, 2020.

In a conference call with investors, CEO Steve Cahillane said separating the businesses will make them more nimble and better able to focus on their own products. All three businesses have significant stand-alone potential, he said. Shareholders will receive shares in the two spinoffs on a pro-rata basis relative to their Kellogg holdings.

Kellogg has been sharpening its focus on its fast-growing snacks for years; they now make up around 80% of the company’s sales. Pringles sales jumped 13% between 2019 and 2021, for example, while Cheez-It sales were up 9%.U.S. cereal sales have been waning for years as consumers moved to more portable products, like energy bars. They saw a brief spike during pandemic lockdowns, when more people sat down for breakfast at home. But sales fell again in 2021. In the 52 weeks to May 38, U.S.

Kellogg said it would explore other options for its plant-based business, including a possible sale. Cahillane said the plant-based category is seeing fierce competition from new and, in many cases, unprofitable entrants, and Kellogg needs to be more nimble and aggressive to counter that. To add to the pressure, U.S. plant-based meat sales have been plateauing in recent months after several years of strong growth. In the year ending May 28, U.S.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Kellogg to split into three companies, with snack division headquarters in ChicagoThe snack company – which accounts for 80% of Kellogg's current sales – will have dual campuses in Battle Creek and Chicago, with its headquarters in Chicago.
La source: cbschicago - 🏆 546. / 51 Lire la suite »

Kellogg Co. will split into three companies, with snack headquarters in ChicagoKellogg Company will spin itself off into three separate companies focused on cereal, plant-based foods and snacks.
La source: ChicagoBreaking - 🏆 521. / 51 Lire la suite »

Kellogg to split into 3 companies: snacks, cereals, plant-based foodBreaking up food giant could help it boost growth in faster-growing segments, including plant-based foods. What if they were to take corn and make it flat and crispy? Could be good. Maybe even frost them with some sugar. So that’s why they are burning down all those food plants
La source: CBSNews - 🏆 87. / 68 Lire la suite »

Kellogg is spinning off its cereal businessKellogg is splitting into three different companies in a major shakeup for the 116-year-old company. No doubt not to help their workers or consumers. My house is 113 years old..... Built 1909...still original. Well done Kelloggs... Best cereal Snap, Crackle and Pop
La source: CNN - 🏆 4. / 95 Lire la suite »

Kellogg to split into 3 companiesKellogg Company said that it would split its North American cereal and plant-based foods businesses into three independent companies, expanding profit margins.
La source: FoxBusiness - 🏆 458. / 53 Lire la suite »

Kellogg to split into 3 companiesThe spinoff of the yet to be named cereal and plant-based foods companies should be completed by the end of next year, the company said.
La source: wsfa12news - 🏆 338. / 59 Lire la suite »