Company aims to spin off its cereal, plant-based businesses by end of 2023.
Kellogg Company has announced plans to separate into three independent public companies via tax-free spinoffs by the end of 2023.
Though the names of the spinoffs have not yet been determined, Kellogg said it would create a global snacking company that would also represent its North American frozen breakfast and international cereal and noodles businesses. It would have net sales of about $11.4 billion. Steve Cahillane will continue as chairman and CEO.