Kellogg to focus on snacks with surprise three-way split

Published by
Reuters

By Praveen Paramasivam and Deborah Mary Sophia (Reuters) -Snack and cereal giant Kellogg said on Tuesday it would split into three independent companies, in the latest U.S. corporate overhaul aimed at simplifying its structure and focusing on expanding its snack business. Shares of the company, which began life in 1894 when W.K Kellogg created Corn Flakes and became known around the world for its breakfast cereals, jumped 6% in premarket trading. The breakup of the Pringles, Cheez-It and Pop-Tarts maker would result in the creation of a global snacking business that would also house its intern…

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