tldrdaily.news logo
Tag

Kellogg Co

All articles tagged with #kellogg co

business2 years ago

Kellogg Co. Board Approves Split into Two Companies, Kellanova and WK Kellogg Co.

Kellogg Co.'s board of directors has approved the company's split into two independent, publicly traded companies. The split, effective October 2, will result in WK Kellogg Co. focusing on cereals in North America, while Kellanova will focus on snack foods and growth opportunities in foreign markets. Kellogg Co. will be renamed Kellanova after the split. The snack food business, including brands like Pringles and Pop-Tarts, accounts for the majority of the company's revenue. The projected net sales for Kellanova in 2024 are $13.4 billion-$13.6 billion, while WK Kellogg Co. projects net sales of $2.7 billion.

via Detroit News|
#business#kellanova#kellogg-co
business2 years ago

Kellogg's Faces Legal Challenges Over Workplace Diversity and Product Sexualization

Conservative legal group America First Legal has filed a complaint with the U.S. Equal Employment Opportunity Commission (EEOC) against Kellogg Co, accusing the company of implementing workplace diversity policies that violate federal laws against workplace bias. The group also criticized Kellogg's marketing campaigns, including featuring drag queen RuPaul on Cheez-It boxes and celebrating LGBTQ Pride Month on cereal boxes, claiming that the company has "politicized and sexualized" its products. America First Legal has threatened shareholder litigation if Kellogg does not change its allegedly illegal policies. This complaint is part of a broader campaign by conservative legal groups and Republican legislators against corporations with "woke" policies on social issues.

via Reuters|
#business#conservative-legal-group#illegal-discrimination
business2 years ago

Kellogg Co. Set to Spin Off Cereal Business in Q4

Kellogg Co. announced that its planned split into two companies, WK Kellogg Co. and Kellanova, is set to be finalized in Q4 2023. WK Kellogg Co. will focus on cereals in North America, while Kellanova will focus on snack foods and growth opportunities in foreign markets. Kellogg's snack food business, including brands like Pringles and Pop-Tarts, generates the majority of the company's revenue. The company aims to increase its global market for its snack business, particularly in emerging markets. Kellogg will keep its plant-based food business, MorningStar Farms, and expects flat sales growth for WK Kellogg Co. due to the decline in cereal consumption in the US. The plant-based meat industry is expected to consolidate, and Kellogg anticipates better days for MorningStar Farms. Food packaging industries may face pressure to improve volume sales as food price inflation levels off in 2024.

via Detroit News|
#business#cereal-business#growth-opportunities