BATTLE CREEK, Mich. — Kellogg Company announced Tuesday that it would be splitting its North American cereal and foods business into three independent public companies.
The three companies, for now, will be known as Global Snacking Co., North America Cereal Co., and Plant Co., but a new corporate name will be selected in the coming months.
Kellogg Company says North America Cereal Co. and Plant Co. will both remain headquartered in Battle Creek, while Global Snacking Co. will maintain dual campuses in Battle Creek and Chicago, Illinois, with its corporate headquarters located in Chicago.
Global Snacking Co. will consist of about 80% of the Kellogg portfolio.
The company plans to separate its U.S., Canada, and Caribbean cereal businesses to create a leading independent cereal company, which will be called North America Cereal Co. until a new name is announced in the coming months.
The third company will, for now, be called Plant Co. and is intended to be a profitable, pure-play, plant-based foods company.
Shares of Kellogg rose almost 4% in Tuesday morning trading.
You can watch the announcement below:
Karie Herringa at WXMI first reported this story.
