Andrew Kelly („Reuters“ / „Scanpix“) nuotr.
US breakfast and snack maker Kellogg on Tuesday unveiled plans to split the business into three independent companies.
According to Kellogg’s press release, the dry breakfast and vegetable protein business, which covers the United States, Canada and the Caribbean, will be split into separate companies. These two businesses accounted for about one-fifth of Kellogg’s sales revenue in 2021.
The remaining part of the business, which generated 80% of revenue, focused primarily on the production of snacks, instant noodles, dry breakfasts for the international market and frozen breakfasts for the North American market.
Kellogg’s board of directors has approved the division of the business into three companies, the names of which will be announced later.
The largest of the three future companies, Kellogg has temporarily renamed Global Snacking Co., is estimated to have an annual turnover of $ 11.4 billion. USD, North American dry breakfast business – 2.4 billion. USD, and the plant protein products business – about 340 million. USD.
“All three companies have great potential as separate companies, and strengthening business orientation will allow them to focus resources on their strategic priorities,” said Steve Cahillane, Kellogg’s CEO.
Kellogg expects these plans to be completed by the end of 2023, subject to US regulatory approval.
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