Kellogg's Decision, to Split Into 3 Companies , Sends Stocks Climbing.<br />NPR reports that Kellogg Co. will split <br />into three different companies focused <br />on cereals, snacks and plant-based foods.<br />NPR reports that Kellogg Co. will split <br />into three different companies focused <br />on cereals, snacks and plant-based foods.<br />On June 21, the company said that <br />the spinoffs for their cereal and plant-based <br />food products have yet to be named.<br />On June 21, the company said that <br />the spinoffs for their cereal and plant-based <br />food products have yet to be named.<br />The company expects the split <br />to be completed by the end of 2022.<br />In 2021, Kellogg saw net sales of $14.2 billion.<br />$11.4 billion of that net total <br />was generated by <br />the company's snack division.<br />Kellogg's cereal division accounted <br />for $2.4 billion in sales, while plant-based <br />sales brought in about $340 million.<br />Kellogg's cereal division accounted <br />for $2.4 billion in sales, while plant-based <br />sales brought in about $340 million.<br />These businesses all have significant <br />standalone potential, and an enhanced <br />focus will enable them to better <br />direct their resources toward <br />their distinct strategic priorities, Steve Cahillane, Kellogg CEO, via NPR.<br />These businesses all have significant <br />standalone potential, and an enhanced <br />focus will enable them to better <br />direct their resources toward <br />their distinct strategic priorities, Steve Cahillane, Kellogg CEO, via NPR.<br />NPR reports that Cahillane will become the chairman and CEO of Kellogg's snack division.<br />The company is reportedly looking <br />to explore options for its plant-based business, <br />which includes MorningStar Farms.<br />News of the split sent shares in Kellogg <br />up 8% in early trading to reach $73.29.<br />The announcement comes as the industry faces rising costs due to Russia's invasion of Ukraine and U.S. inflation reaching a four-decade high.<br />The announcement comes as the industry faces rising costs due to Russia's invasion of Ukraine and U.S. inflation reaching a four-decade high
