Kellogg to split into three companies

2022.06.21 14:32

FILE PHOTO: Kellogg’s Corn Flakes owned by Kellogg Company is seen for sale at a store in Queens, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo

(Reuters) -Kellogg said on Tuesday it was splitting itself into three separate companies, with a focus on snacking, North American cereal and plant-based businesses.

Shares of company jumped 7% in pre-market trading.

Kellogg (NYSE:K) said its U.S., Canadian, and Caribbean cereal and plant-based divisions collectively represented about 20% of its net sales in 2021, while the remaining business accounted for about 80% of sales.

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