Cereal giant Kellogg Company splits into three companies. The American multinational has communicated to the market that it is going to separate into three independent, listed companies, in a movement, which will not have a fiscal impact and which, it assures, will allow it to better develop the potential of the three divisions.
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The most relevant in terms of volume is Global Snacking Co., which reaches a sales volume of 11.4 billion dollars. In it, it includes its global business of ‘snacks’ or appetizers, where it has brands such as Pringles. The international activity of cereals -outside the United States- and other products, such as frozen breakfasts, is also included in it.
The second business is that of cereals in North America, with sales of 2,400 million dollars, and which includes activity in the United States, Canada and the Caribbean; and to be called North America Cereal Co.
Finally, the third listed company is Plant Co, with a turnover of 340 million dollars, and which will focus on plant-based products for vegans, where it sees significant growth potential. A business that is currently only operating in the United States, Canada and the Caribbean.
The president and CEO of the multinational, Steve Cahillane, assures through a statement that the company is in the process of transformation with the aim of maximizing value for its shareholders.
“The three businesses have growth potential and will allow better use of resources and development of their strategic priorities,” he adds. In addition, he assures that, being independent companies, they will be able to be more agile.
The division process into three companies will take place throughout this year and is expected to be completed in the next year.