Kellogg, which will split in two, has revealed the names of the new businesses it plans to establish by the end of 2023.
The maker of Pringles is changing the company name to house its global snack food and international Kellanova cereal businesses.
WK Kellogg Co will be the name of the North American grain operations that will be spun off at 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 greater operational agility and flexibility” and “realize better prospects for profitable growth.”
Kellanova will also take over Kellogg’s international noodle assets, the company’s plant-based foods division and its frozen breakfast interests in North America.
Steve Cahillane, Kellogg’s Chairman and CEO, will serve in the same roles at Kellanova. Gary Pilnick, chief legal officer and vice president, will assume the role of chief executive officer of WK Kellogg Co.
In June 2022, Kellogg announced that it was separating into three separate companies, also including its plant-based business, which it suggested at the time it might sell.
Last month, Kellogg quashed the idea of selling its plant-based division, citing the category’s “long-term growth prospects.”
In its fourth-quarter earnings statement, Kellogg said: “After exploring strategic options, the company has decided to maintain its plant-based business, which accounts for 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 it will change its name. The Kellogg’s brand will remain on the packaging of both companies’ products around the world.
Cahillane said: “Revealing the names of the global North American snack and cereal businesses is an exciting milestone for both companies as we move towards unlocking their full potential as independent businesses.
“Upon completion of the spin-off, we believe that both businesses will be better positioned to focus on their distinct strategic priorities, execute with greater operational agility and flexibility, achieve enhanced prospects for profitable growth, and shape distinctive corporate cultures, each rooted in the strong Kellogg Company Securities. ”
Kellanova will include brands such as Pringles, Cheez-It, Pop-Tarts and meat-alternative brand MorningStar Farms, as well as Kellogg’s.
WK Kellogg Co brands will include Kellogg’s namesake cereal, Frosted Flakes, Froot Loops and Special K.
The new name for the snack business is a portmanteau of Kell (for Kellogg) and nova (Latin for new). Cahillane said: “The Kellanova name signals the company’s ambition for the future, building on the strong brand equity and legacy built over the past 117 years as a Kellogg company.”