© Reuters. FILE PHOTO: Kellogg’s Corn Flakes owned by Kellogg Company is seen for sale at a store in Queens, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo
(Reuters) -Kellogg said on Tuesday it was splitting itself into three separate companies, with a focus on snacking, North American cereal and plant-based businesses.
Shares of company jumped 7% in pre-market trading.
Kellogg (NYSE:) said its U.S., Canadian, and Caribbean cereal and plant-based divisions collectively represented about 20% of its net sales in 2021, while the remaining business accounted for about 80% of sales.