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Date: Friday, 22nd November 2024
Kellogg announces split into three separate companies
By Godwin Emmanuel - June 21, 2022 | Categories: World Tags: Economy
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American cereal giant Kellogg announced Tuesday it is splitting into three independent companies, sending the group’s shares up by eight percent in pre-market trading.
One of the new firms will be focused on global snacks and North American frozen breakfasts, a second on cereal sales in North America and the Caribbean, and a third will specialize in plant-based foods, the group said in a statement.
The yet-to-be-named entities will initially be known as Global Snacking Co., North America Cereal Co., and Plant Co. The latter two will be created through tax-free spin-offs.
Kellogg is aiming to complete the split by late 2023, subject to approval by US regulators.
“These businesses all have significant standalone potential,” Kellogg’s chairman and CEO Steve Cahillane said in a statement.
“An enhanced focus will enable them to better direct their resources toward their distinct strategic priorities,” he said.
The giant behind such household names as Corn Flakes and Rice Krispies said North American Cereal and Plant Co. would remain headquartered in Battle Creek, Michigan.
The Global Snacking will have dual headquarters — in Battle Creek and Chicago.
Kellogg announces split into three separate companies - Susan DeMalio - Aug 27, 2022 5:25 am
If anyone thinks this is in the best interests for consumers, they’re sadly misinformed and gullible. GULLIBLE!!!
Corporations do this for THEIR bottom line.
Busting up into smaller divisions is meant to divide the union.
Busting up into smaller divisions is meant to increase their profits.
Busting up will NOT lower end user pricing.
More jobs? Laughable.
Most production is AUTOMATED!!!
No payroll…no payroll taxes.
It’s not “illegals” taking jobs…the automation takes jobs.
Corporations write off the equipment all in one fell swoop. Big $$$ savings for them.
Stop glorifying these big corporations as saviors of the economy. They don’t give a s**t about anyone other than their shareholders.
EDITED for EMPHASIS.
Kellogg announces split into three separate companies - Jeanne Archiquette - May 31, 2023 4:41 pm
Hopefully this division will be beneficial to consumers instead of filling their pockets! Americans need a break and it’s most important that these companies realize that! Kellogg has been around a long time, I hope that it values its customers!
Kellogg announces split into three separate companies - Bridgewater Fuller - May 31, 2023 7:39 pm
So, after absorbing a lot of smaller companies that once had their own names, they’re dividing into three. I’m sure it has more to do with anti-trust lass than helping consumers
Kellogg announces split into three separate companies - Cat Magden - Jun 1, 2023 1:41 am
Ok, it’s the best deal for shareholders, but is it going to change anything for consumers? Beyond the names which we’ll obviously have to get used to, I mean… I hope they’re not going to devolve on quality and safety for the sake of making more money for the shareholders…
Kellogg announces split into three separate companies - Jennifer Burchill - Aug 17, 2023 10:31 pm
I know of a few companies that should break like this!
Kellogg announces split into three separate companies - Jeff Perkins - Aug 22, 2023 12:56 pm
One company still , 3 times the tax breaks , tougher paper trail to follow when it commits crimes , make it harder for the IRS to audit and more financial scumbaggery we wont ever see on the news .
Kellogg announces split into three separate companies - Howard W. Dragutsky - Aug 22, 2023 12:56 pm
In other words a way for the officers & board of directors to make more money at YOUR expense!
Kellogg announces split into three separate companies - Alexandra Olivier - Aug 22, 2023 12:57 pm
Didn’t they just have a bunch of striking workers? Only reason a large corporation would break into different operations is to make more profit!
Kellogg announces split into three separate companies - Charisse Simonian - Aug 22, 2023 12:57 pm
Will the companies be named Snap, Crackle & Pop?
Kellogg announces split into three separate companies - Jenny Cipriani - Aug 22, 2023 12:58 pm
Corporations rarely do anything positive for its consumers.
Kellogg announces split into three separate companies - Darlene Hodyna - Aug 22, 2023 1:01 pm
Breaks up the liability for lawsuits and busts up unions.
Kellogg announces split into three separate companies - Charla McMichael - Aug 22, 2023 1:01 pm
This isn’t news
Lower gas prices
Not worrying about a recession
That would be breaking news
Kellogg announces split into three separate companies - Radin Hristov - Aug 22, 2023 1:03 pm
Oh, and it doesn’t have anything to do with the major strike against Kellog, does it…
Kellogg announces split into three separate companies - Marcel Wormsley - Aug 22, 2023 1:03 pm
Looking forward to some good ol’ operational Frosted Flakes.
Kellogg announces split into three separate companies - Sunan Deen - Aug 22, 2023 1:05 pm
WHY IS THIS BREAKING NEWS
Kellogg announces split into three separate companies - Dan Shields - Aug 22, 2023 1:05 pm
PepsiCo and General Mills are much better companies anyway.