Arthur Hayes Announces FLOP Testnet Launch Within Weeks 
Want to cut your energy bills? Here’s how five experts are doing it 
What is Zionism? The different meanings of a contested term 
FAA Warns US Airlines Over Saudi Arabia Flight Risks 
Can your cat recognise you by scent? New study shows it’s likely 
Moonshot AI Executives Seek Settlement Ahead of Hong Kong IPO 
Britain has almost 1 million young people not in work or education – here’s what evidence shows can change that 
Ethereum Foundation-Linked Wallets Move $11.13M in ETH to Kraken 
Why a ‘rip-off’ degree might be worth the money after all – research study 
The ghost of Robodebt – Federal Court rules billions of dollars in welfare debts must be recalculated 
Samsung, SK Hynix Shares Plunge as China Chip Competition Grows 
Visa Wins China Approval to Prepare Domestic Payments Expansion 
Trump Calls for Zelenskyy Replacement Amid Russian Diesel Deal 
Glastonbury is as popular than ever, but complaints about the lineup reveal its generational challenge 
Why have so few atrocities ever been recognised as genocide? 
US Stock Futures Rise as Oil Prices Fall Ahead of Q3 Earnings 
Trump Defends Russian Diesel Deal Amid US Sanctions Backlash 
Add as a preferred source on Google
The Kellogg Company takes a critical stride in its division plan, filing a Form 10 registration statement with the US SEC to spin off its North American cereal business, WK Kellogg Co, into a separate public entity. This move paves the way for the birth of two distinct companies, Kellanova and WK Kellogg Co, by late 2023, enabling more focused and strategic operations.
This strategic move will result in the creation of two public companies: Kellanova and WK Kellogg Co. Kellanova, a global snacking, international cereal and noodles, and North America frozen foods business, is expected to achieve approximately $12.6 billion in net sales for 2022. On the other hand, WK Kellogg Co, focusing on the cereal market in the US, Canada, and the Caribbean, is projected to generate around $2.7 billion in net sales for the same year.
Completion of the separation transaction is targeted for the fourth quarter of 2023, subject to customary conditions, final approval by the board, and the effectiveness of the Form 10 registration statement.
Kellogg Company Chairman and CEO, Steve Cahillane, emphasized the significance of this filing as a crucial step towards the successful establishment of the two new entities. Kellanova and WK Kellogg Co will benefit from a reinvigorated focus, enabling them to strategically direct their resources and leverage their unique strengths, ultimately delivering greater value to their shareholders.
Form 10 provides comprehensive information about WK Kellogg Co, including its portfolio, market dynamics, strategic direction, risk factors, and management. It also features financial statements and an analysis of the key drivers behind the company's past performance.
It is important to note that Form 10, filed on July 24, 2023, may be subject to revisions before the spin's effective date. Moreover, Kellogg Company's investor website can access supplemental business information concerning Kellanova and WK Kellogg Co and updates on the separation process. A dedicated website is available for ongoing information related to the separation.
Kellogg Company's decision to divide into two distinct businesses marks an exciting chapter in its history, positioning each entity to embrace its unique strengths and drive sustained growth in its respective markets.
Photo: Sten Ritterfeld/Unsplash
