BATTLE CREEK, Mich. – Michigan-based Kellogg Company has announced a separation of its two businesses into three new, wholly independent public companies. The plan, according to the company, will break apart its North American cereal and plant-based foods businesses. The names of the new companies will be announced at a later time.
“Kellogg has been on a successful journey of transformation to enhance performance and increase long-term shareowner value. This has included re-shaping our portfolio, and today’s announcement is the next step in that transformation,” Steve Cahillane, Kellogg Company’s Chairman and Chief Executive Officer, said in a statement.
He added, “These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities. In turn, each business is expected to create more value for all stakeholders, and each is well positioned to build a new era of innovation and growth.”
The Kellogg cereal company and plant company will stay headquartered in Battle Creek, but the snacking company will have dual campuses in Battle Creek and Chicago and move its corporate headquarters to Chicago.