After an approved plan by its board of directors was passed, Kellogg made the formal announcement that its North American cereal and plant-based food businesses will be spun off into two separate entities.
The tax-free spin-offs will result in three independent companies, which will be named at a later date, including:
- Global Snacking: A global snacking, international cereal and noodles company that will include North American frozen breakfast;
- North America Cereal: A cereal company in the United States, Canada and the Caribbean that will include a portfolio of iconic and world-class brands; and
- Plant: A pure-play plant-based foods company that will be anchored by the MorningStar Farms brand and focus on capitalizing on strong long-term category prospects.
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