Kellogg is spinning off its cereal business into three independent public companies, sectioning off its iconic brands into distinct snacking, cereal and plant-based businesses
Kellogg's the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, snacks and plant-based foods.
“These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities,” said CEO Steve Cahillane.Cahillane will become chairman and CEO of the global snacking company. US 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 last year.
The snack company - which accounts for 80 percent of Kellogg's current sales - will have dual campuses in Battle Creek and Chicago, with its headquarters in Chicago.
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