BATTLE CREEK, MICH. — The Kellogg Co. took another step toward breaking up the company July 24 when it filed a Form 10, also known as the General Form for Registration of Securities, with the US Securities and Exchange Commission.
The filing moves the company closer to creating two companies. Kellanova will be a business comprised of Kellogg’s snacks, international cereal, noodles and frozen foods business, and the WK Kellogg Co. will feature its US, Canada and Caribbean cereal businesses. The company said it remains on track to complete the separation during the fourth quarter of 2023.
“Today’s Form 10 filing marks another important step toward our planned separation into two established and special businesses,” said Steve Cahillane, chairman and chief executive officer. “As stand-alone companies, Kellanova and WK Kellogg Co will benefit from an enhanced focus that will enable them to better direct their resources toward their distinct strategic priorities, unlocking value for shareowners.”Using 2022 sales data, the Kellogg Co. said the Kellanova businesses had sales of $12.6 billion during the year and global snacks and emerging markets made up approximately 80% of sales. The WK Kellogg Co. had sales of approximately $2.7 billion.