Kellogg Co. completes split into two, independent companies — Kellanova and WK Kellogg Co

Greyson Steele, Battle Creek Enquirer
·2 min read

Kellogg Company's split into two independent, publicly traded companies is now complete.

Kellanova, focused on global snacking, international cereal and noodles and North American frozen foods, on Monday announced the completed spinoff of its North American cereal business into WK Kellogg Co.

The separation was achieved through the distribution of all of the shares of WK Kellogg Co to holders of Kellanova common stock at 12:01 a.m. EDT Monday, with Kellanova shareowners receiving one share of WK Kellogg Co common stock for every four shares of Kellanova common stock held as of the close of business Sept. 21.

WK Kellogg Co began regular way trading on the iconic New York Stock Exchange Monday under the ticker symbol "KLG," and Kellanova will continue to trade on the NYSE under the ticker symbol "K."

"With the completion of the separation, Kellanova has entered a new era with a new name and a new ambition," Steve Cahillane, chairman and CEO of Kellanova, said in a release. "We are starting from a position of strength that is rooted in a century-old legacy as we embark on a journey to achieve our vision of becoming the world's best performing snacks-led powerhouse."

Members of the Kellanova executive leadership team ring the opening bell at the New York Stock Exchange on Monday, Oct. 2, 2023.
Members of the Kellanova executive leadership team ring the opening bell at the New York Stock Exchange on Monday, Oct. 2, 2023.

Kellogg initially announced in June 2022 that it would be splitting into three companies focused on cereal, snacks and plant-based foods, respectively. In February, Kellogg indicated there would only be two companies, with the plant-based brands retained as part of Kellanova.

WK Kellogg Co will remain headquartered in Battle Creek. Kellanova, meanwhile, will maintain dual campuses in Battle Creek and Chicago, with its corporate headquarters in Chicago.

Kellanova's portfolio features well-known snacks such as Pringles, Cheez-It, Pop-Tarts, Kellogg's Rice Krispies Treats, MorningStar Farms, Incogmeato, Gardenburger, Nutri-Grain, RXBAR, and Eggo. It also includes several international cereal brands including Kellogg's, Frosties, Zucaritas, Special K, Krave, Miel Pops, Coco Pops, and Crunchy Nut, among others.

The portfolio for WK Kellogg Co features Kellogg's, as well as Frosted Flakes, Froot Loops, Mini-Wheats, Special K, Raisin Bran, Rice Krispies, Corn Flakes, Kashi and Bear Naked.

While the company’s corporate name has changed to Kellanova, the Kellogg’s brand will remain on its products around the world. The company is projected to generate net sales of approximately $13.4 to 13.6 billion in 2024.

Contact reporter Greyson Steele at gsteele@battlecreekenquirer.com

This article originally appeared on Battle Creek Enquirer: Kellogg Co. completes split into two, independent companies