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Kellogg plans to split into three companies

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Group says snacks will be the main focus of its new independent firms

Kellogg's Corn Flakes, owned by Kellogg Company, are seen for sale in a store in Queens, New York City, US. File photo: REUTERS/ANDREW KELLY

The share price of the company, which began life in 1894 when WK Kellogg created Cornflakes and became known around the world for its breakfast cereals, jumped 7% in premarket trading on Tuesday. Kellogg said that its other two divisions — US, Canadian and Caribbean cereal and plant-based businesses — collectively represented about 20% of its net sales in 2021.The Battle Creek, Michigan-based company said snacks would be the biggest focus among the three. It will be helmed by Kellogg CEO Steve Cahillane and include brands such as Pringles, Cheez-It and Pop-Tarts.

 

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