Kellogg’s split into 3 companies

[Anonymous No.18018849]

https://www.cnn.com/2022/06/21/business-food/kelloggs-split-spin-off/index.html

>Kellogg is splitting into three different companies in a major shakeup for the 116-year-old company.

>The first company will include Kellogg's (K) North America cereal unit, which includes Raisin Bran and Rice Krispies, its snacking unit will become a second company, including Cheez-Its and Pringles. And, lastly, a new "pure-play plant-based foods company" will be anchored by its MorningStar Farms brand.
>New names for the spin-offs will be announced later, and the spinoffs are expected to be completed by the end of 2023. The board of directors has approved the plans and headquarters for the three units will remain unchanged.
"Kellogg has been on a successful journey of transformation to enhance performance and increase long-term shareowner value, said Kellogg CEO Steve Cahillane in a statement. >"These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities."
>Shares rose more than 8% in premarket trading. Its stock is up more than 4% for the year.
>Kellogg explained that spinning off the companies will "better position each business to unlock its full potential," especially as the company has grown with acquisitions in recent years. Further focusing the new companies will help grow them with "financial targets that best fit their own markets and opportunities."

[Anonymous No.18019177]

Oh. Okay.

[Anonymous No.18020674]

>>18018849
Scrolling through my favorites board, I thought this was a decent /biz/ thread actually discussing businesses instead of the usual shitcoins. Shame.

[Anonymous No.18020688]

Based billion-dollar food manufacturer rebranding and potentially nullifying any CBAs that resulted from labor strikes.

[Anonymous No.18020771]

>>18020688
yep

[Anonymous No.18020876]

>>18018849

[Anonymous No.18020881]

I'm so excited, bros.