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Kellogg to Split into Three Companies, with Largest Based in Chicago
Kellogg Company said Tuesday that its board of directors has approved a plan to separate its North American cereal and plant-based foods businesses, via tax-free spin-offs, resulting in three independent public companies, each better positioned to unlock their full standalone potential.
The largest of the three, currently known as “Global Snacking Co.,” will have dual offices in Kellogg’s hometown of Battle Creek, MI and Chicago, with corporate headquarters in Chicago. The other two units will specialize in cereals and plant-based foods, and will remain in Battle Creek.
“These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities,” said Steve Cahillane, Kellogg Company’s chairman and CEO.
He continued, “In turn, each business is expected to create more value for all stakeholders, and each is well positioned to build a new era of innovation and growth.”
Pictured: Kellogg offices at 412 N. Wells St. in Chicago. Image courtesy of Hirsch MPG LLC.
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