Kellogg’s Co’s global snacking business will be called “Kellanova” subsequent to the spin-off of its North American cereal unit.
The company has been split into two sections to sharpen the focus of each division. The cereal business will be the home to brands including Kellogg’s, Froot Loops, and Rice Krispies and will be called “WK Kellogg Co”, after company founder W.K. Kellogg, who created Corn Flakes in 1894. Whereas the company names will change upon the spin-off, which Kellogg intends to complete by the end of this year, the “Kellogg’s” brand will remain on the packaging of both companies’ products around the world.
Kellogg CEO Steve Cahillane, who will be CEO of Kellanova, informed that Kellanova recalls back to the history, heritage, and tradition of the company with the iconic ‘K’ and the first four letters being Mr. Kellogg’s name. In fact, a number of employees submitted WK Kellogg Co as a name for the cereal business and also different permutations of Kellogg and ‘nova’ for the snacking company, Cahillane said.
Kellogg, which last year revealed plans to split into three independent companies, last month reversed its strategy and said its plant-based meat business, known for its MorningStar Farms brand, would remain in-house. Kellanova will house the MorningStar Farms label, along with Pringles, Cheez-It, Pop-Tarts, and other snack brands. The business will also oversee international cereal brands including Frosties, Zucaritas, and Miel Pops. Kellogg topped market expectations for sales and profit in the fourth quarter, as demand for its cereals and snacks remained strong even after several rounds of price increases.
Kellanova will trade on the New York Stock Exchange under the ticker symbol “K”, Kellogg said, adding that the ticker and exchange details for WK Kellogg Co will be announced in the coming months.