With the spin-off of its North American cereal operation, Kellogg Co.’s (K.N) worldwide snacking business will be branded “Kellanova,” the packaged food giant announced on Wednesday.
The cereal business, which includes Kellogg’s, Froot Loops, and Rice Krispies, will be christened “WK Kellogg Co” after firm founder W.K. Kellogg, who invented Corn Flakes in 1894.
Kellogg plans to complete the spin-off by the end of the year, although the “Kellogg’s” brand will stay on both firms’ goods worldwide.
“Kellanova harkens back to the history, legacy and tradition of the firm with the famous ‘K’ and first four letters being Mr. Kellogg’s name,” said Kellogg CEO Steve Cahillane, who will lead Kellanova.
Cahillane said many employees suggested WK Kellogg Co for the cereal firm and “various permutations” of Kellogg and “nova” for the snacking company.
Last month, Kellogg announced it would keep its MorningStar Farms plant-based beef business in-house.
Pringles, Cheez-It, Pop-Tarts, and MorningStar Farms will be sold during Kellanova. In addition, the company will oversee Frosties, Zucaritas, and Miel Pops.
Even after many price hikes, Kellogg’s cereals and snacks outperformed market forecasts in the fourth quarter.
Kellogg said Kellanova would trade on the New York Stock Exchange under the ticker code “K,” WK Kellogg Co will disclose its ticker and exchange specifics in the coming months.
