The separation of Kellogg into Kellanova and WK Kellogg is now a reality. The former will be a global snacks and cereal company with an international presence, while WK Kellogg will be dedicated to foods in North America (US, Canada and the Caribbean).
The separation was effected by the distribution of all shares of WK Kellogg Co. to holders of Kellanova common stock at 12:01 a.m. EDT on October 2, 2023.Kellanova shareholders will receive one W.K. Kellogg Co. common share for every four Kellanova common shares at the close of business on the record date of September 21, 2023.
WK Kellogg Co. began regular trading on the New York Stock Exchange today under the symbol “KLG.” Kelanova will continue to trade on the New York Stock Exchange under the symbol “K.”
Entering a new era
“With the completion of the separation, Kelanova entered a new era with a new name and a new ambition.” said Steve Cahillane, President and CEO of Kelanova. “We are starting from a position of strength rooted in a century-old legacy as we embark on a journey to achieve our vision of becoming the world’s top-performing snack company.”
With projected 2024 net sales of approximately $13.4 billion to $13.6 billion, Kelanova is a leading global snack company With a portfolio of world-famous brands, including Pringles, Chez-It, Pop-Tarts, Kellogg’s Rice Krispies Treats, MorningStar Farms, Incogmeato, Gardenburger, Nutri-Grain, RXBAR and Ego. Kelanova also operates a portfolio of global cereal brands, including Kellogg’s, Frosties, Zucaritas, Special K, Krave., Miel Pops, Coco Pops, Crunchy Nut, and others. While the company name has changed to Kellanova, the Kellogg brand will remain on its products worldwide.
Kelanova will maintain factories in Battle Creek, Michigan, and Chicago, Illinois, and the company is headquartered in Chicago. Kelanova’s three international regions in Europe, Latin America, Asia Pacific and the Middle East and Africa (“AMEA”) will remain at its current headquarters.