Boxes of Kellogg's cereals including Froot Loops, Cocoa Krispies and Raisin Bran are seen at a store in Arlington, Virginia, December 1, 2016. - Kellogg's is facing a boycott organized by the Trump-aligned Breitbart News after the cereal giant decide Kellogg Company announced Tuesday that it will separate its North American cereal and plant-based foods businesses into three independent public companies.
The three companies, which are being separated via tax-free spin-offs – include "Global Snacking Co.," "North America Cereal Co." and "Plant Co." The names of the companies will be determined at a later date.Global Snacking Co.
will be a "leading company in global snacking, international cereal and noodles and North America frozen breakfast," with estimated 2021 net sales of $11.4 billion.
Nearly 60% of its net sales come from global snacks, less than a quarter come from cereal in international markets, approximately 10% come from noodles in Africa and less than 10% from frozen breakfast and the Eggo brand. GAS PRICES MAKE RECORD JULY FOURTH CAR, AIR TRAVEL COSTLYKellogg said the business would expand profit margins and is expected to be a higher-growth company than the current company, still under the leadership of CEO Steve Cahillane. "Kellogg has been on a successful journey of transformation to enhance performance and increase long-term shareowner value.