Kellogg said the board has approved a plan to separate its North American cereal and plant-based foods businesses, via tax-free spin-offs, resulting in three independent public companies.
- The three companies, whose names will be determined at a later date, would be the following:
- “Global Snacking Co.”, with about $11.4 billion in net sales, will focus on global snacking, international cereal and noodles and North America frozen breakfast
- “North America Cereal Co.”, with about $2.4 billion in net sales, will focus on cereal in the U.S., Canada and Caribbean
- “Plant Co.”, with about $340 million in net sales, will be a ...