Kellogg Company has unveiled the names of the businesses it will create through its planned separation into two public companies.
The global snacking, international cereal and noodles, plant-based foods and North American frozen breakfast business will be known as Kellanova – home to brands such as Pringles, MorningStar Farms and Nutri-Grain. Kellanova’s portfolio will also encompass cereal brands, including Frosties, Special K, Krave and Coco Pops.
Commenting on the new name, Steve Cahillane, Kellogg Company’s chairman and CEO, and future chairman and CEO of Kellanova, said: “The ‘Kell’ overtly recognises our enduring connection to Kellogg Company, while ‘anova,’ which combines ‘a’ and the Latin word ‘nova,’ meaning ‘new,’ signals our ambition to continuously evolve as an innovative, next-generation, global snacking powerhouse”.
Operating across the US, Canada and the Caribbean, the North American cereal business will be named WK Kellogg Co and includes brands Froot Loops, Rice Krispies and Corn Flakes.
Gary Pilnick, CEO designate of WK Kellogg Co, commented: “The name WK Kellogg Co honours the legacy of founder W.K. Kellogg, celebrating his spirit of innovation and entrepreneurship. At the same time, we are looking forward, focused on propelling the company into the future.”
Cahillane added: “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”.
The announcement comes after Kellogg revealed that it plans to retain its plant-based unit, after considering also spinning it off.
Last June, Kellogg announced its intention to split into three companies, one of which would be the plant-based business. However, the company reversed the decision in its Q4 results, citing market conditions and its confidence in the unit as a “long-term growth vehicle”.
By Phoebe Fraser
Source: foodbev.com
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