Kellogg, which is set to split in two, has unveiled the names of the new businesses it plans to set up by the end of 2023.
The Pringles maker is rebranding the company set to house its global snacking and international cereal businesses Kellanova.
WK Kellogg Co will be the name for the North American cereal operations scheduled to be spun off by the end of the year.
The separation of the two companies is part of a major restructuring plan announced last year.
The US food giant said the split would allow both companies to “execute with increased agility and operational flexibility” and to “realise improved outlooks for profitable growth”.
Kellanova will also take in Kellogg’s international noodles assets, the company’s plant-based foods arm and its North American frozen breakfast interests.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Steve Cahillane, Kellogg chairman and CEO, will hold the same roles at Kellanova. Gary Pilnick, chief legal officer and vice chairman, will take over as CEO of WK Kellogg Co.
In June 2022, Kellogg announced it was separating into three independent companies – also including its plant-based business, which at the time it suggested it may sell.
Last month Kellogg quashed the idea of selling off its plant-based division, citing the category’s “long-term growth prospects”.
In its fourth-quarter results statement Kellogg said: “After exploring strategic options, the company has decided to retain its plant-based business, which represents 2% of net sales and offers strong long-term growth prospects.”
Kellogg expects to complete the spin-off of the North American cereal business by the end of 2023, when its name will change. The Kellogg’s brand will remain on product packaging of both companies around the world.
Cahillane said: “Unveiling the names for the global snacking and North American cereal businesses is an exciting milestone for both companies as we progress towards unleashing their full potential as standalone businesses.
“Upon spin completion, we believe both businesses will be better positioned to focus on their distinct strategic priorities, execute with increased agility and operational flexibility, realise improved outlooks for profitable growth, and shape distinctive corporate cultures, each rooted in Kellogg Company’s strong values.”
Kellanova will encompass brands such as Pringles, Cheez-It, Pop-Tarts and meat-alternative brand MorningStar Farms, as well as Kellogg’s.
WK Kellogg Co’s brands will include namesake Kellogg’s cereal, Frosted Flakes, Froot Loops and Special K.
The snacking business’s new name is a portmanteau of Kell (for Kellogg) and nova (Latin for new). Cahillane said: “The name Kellanova signals the company’s ambition for the future, building on the strong brand equity and legacy built over the past 117 years as Kellogg company.”