Officials with Michigan-based Kellogg’s say the food giant is dividing itself into three separate companies.
Kellogg’s will likely focus on items other than cereal in the future.
Consumers know Kellogg’s for producing Rice Krispies and Frosted Flakes. But its mascot, Tony the Tiger, would NOT say sales of cereal have been “G-r-r-reat!” ever since a spike during the initial pandemic lockdowns.
More than a thousand union workers also staged a 10-week strike against the cereal maker last year, and Russia’s invasion of Ukraine drove up the price of grain.
The vast majority of Kellogg’s more than 14 billion dollars in net sales last year came from snack foods like Pringles and Pop Tarts.
Now Kellogg’s is splitting into three companies – each specializing in cereal, snacks, or its MorningStar Farms brand plant-based food, respectively.
Officials say the moves should be complete by the end of next year.