Kellogg to Split into Cereal Company WK Kellogg and Snack Company Kellanova

Kellogg Co. board approves split into 2 independent, publicly traded companies called WK Kellogg Co. and Kellanova
Split to be effective Oct. 2, with Kellogg Co. shareholders receiving 1 share of WK Kellogg for every 4 shares of Kellogg owned
WK Kellogg to focus on cereals like Froot Loops in North America, Kellanova on snacks like Pringles globally
Kellogg currently trades as K, will be renamed Kellanova; WK Kellogg to trade as KLG
Split follows year of planning to create 2 stronger, more focused companies and unlock value for shareholders

detroitnews.com

Relevant topic timeline:

9/17/2023

Kellogg Splits Off Cereal Business to Focus on Snacks as Sales Decline

Kellogg, the American junk food giant, is spinning off its North America cereal division into a new company named WK Kellogg, as it expects the cereal industry to continue its decline and wants to focus on the more attractive snacking segment.

10/1/2023

Snack Food Giants Bet on Junk Despite Rise of Obesity Drugs

Kellogg's is spinning off its cereal business in favor of its snack unit and rebranding as Kellanova, but food companies' focus on snacking is at risk due to the success of obesity and diabetes drugs like Wegovy and Ozempic, which could lead to slower sales for popular snack brands.

10/2/2023

Kellogg Splits Into Two Companies as Cereal Sales Stagnate and Snacking Surges

Kellogg's cereal business, now known as "Kellanova," began trading on the NYSE after being spun off from its parent company, with snacking brands like Pringles and Cheez-It among its portfolio, while shares of Kellanova fell 3% in morning trading and WK Kellogg's stock fell 5%.