Kellogg Co has reiterated that it expects to complete its previously-announced split into three companies during the fourth quarter of this year.
The move will see the group break up into two separate units – a Snacks business called Kellanova (headquartered in Chicago) and a Cereals business called WK Kellogg Co. (headquartered in Battle Creek).
On Wednesday, Kellogg said it expects Kellanova to post net sales of $13.5bn for 2022, with an annual adjusted profit between $3.55 and $3.65 per share. Meanwhile, WK Kellogg is expected to post full-year net sales of $2.7bn.
NAM Implications:
- Rivals should anticipate greater competition from the separate parts of the business.
- …as each division improves its business focus with less distraction.
- And builds evidence that the move will benefit all stakeholders…
