Kellanova, formerly known as Kellogg Company, yesterday completed the previously announced separation of its North American cereal business, WK Kellogg Co, resulting in two independent, public companies. It is claimed that the move, unveiled last year, will better position each business to unlock their full potential.
With projected 2024 net sales of approximately $13.4-13.6bn, Kellanova’s portfolio of brands includes Pringles, Cheez-It, Pop-Tarts, Kellogg’s Rice Krispies Treats, MorningStar Farms, Incogmeato, Gardenburger, Nutri-Grain, RXBAR, and Eggo. Kellanova also controls international cereal brands, including Kellogg’s, Frosties, Zucaritas, Special K, Krave, Miel Pops, Coco Pops, and Crunchy Nut.
While the company’s corporate name has changed to Kellanova, the Kellogg’s brand will remain on its products around the world.
Meanwhile, WK Kellogg Co has taken ownership of the company’s cereal brands in the US, Canada and the Caribbean.
As a standalone company, Kellanova stated that it would benefit from “greater operational focus and fit-for-purpose strategy and resource allocation, investing behind its differentiated brands in an effort to deliver consistently strong net sales and earnings growth over time”. This growth is expected to be complemented by improved profitability through operating leverage, a mix shift toward its most differentiated brands, building scale in emerging markets, and ongoing productivity and revenue growth management.
Kellanova will maintain its corporate headquarters located in Chicago. Its three international regions in Europe, Latin America, and Asia Pacific, Middle East, and Africa will remain at their current headquarters.
“With the completion of the separation, Kellanova has entered a new era with a new name and a new ambition,” said Steve Cahillane, Kellanova’s Chairman and CEO.
“We are starting from a position of strength that is rooted in a century-old legacy as we embark on a journey to achieve our vision of becoming the world’s best-performing snacks-led powerhouse.”
