Kellogg names snacking unit Kellanova forward of spinoff – EAST AUTO NEWS

Kellogg names snacking unit Kellanova forward of spinoff

Kellogg model Cheez-it crackers organized at a grocery store in Dobbs Ferry, New York, US, on Wednesday, June 22, 2022. Kellogg Co. stated it is going to break up into three unbiased corporations, sparking a rally within the meals conglomerates shares.

Tiffany Hagler-Geard | Bloomberg | Getty Pictures

Kellogg on Wednesday revealed it is going to title its snacking unit Kellanova as a part of its plan to separate into two unbiased public corporations.

Kellanova, which can embrace manufacturers like Pringles and Cheez-Its, will retain the “Ok” inventory ticker presently utilized by the meals large. The North American cereal unit will likely be renamed WK Kellogg Co. The corporate stated that unit’s ticker will likely be introduced within the coming months.

Using “Kell” acknowledges the brand new firm’s connection to Kellogg, whereas the Latin phrase “nova,” which implies new, is supposed to sign its ambition to be a world snacking powerhouse, in response to Steve Cahillane, CEO of Kellogg and future CEO of Kellanova.

The Kellogg’s title will stay on model packaging.

Kellogg stated it solicited worker concepts to call the 2 corporations and obtained greater than 4,000 submissions. Roughly a fifth of employees who submitted names steered a variation of founder W.Ok. Kellogg’s title for the cereal enterprise.

The spinoff, which was introduced in June, is deliberate for the top of this 12 months. The preliminary plan additionally included the sale or separation of its plant-based enterprise, which incorporates Morningstar Farms. Nevertheless, Kellogg stated in February it has reversed course as shoppers’ and buyers’ curiosity within the class waned. As a substitute, will probably be part of Kellanova.

Kellogg names snacking unit Kellanova forward of spinoff – EAST AUTO NEWS


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