Kellogg’s Cheez-it crackers were held at a Dobbs Ferry, Latest York, U.S. supermarket on Wednesday, June 22, 2022. Kellogg announced that it could split into three independent corporations, prompting a spike in food conglomerate share prices.
Tiffany Hagler-Geard | Bloomberg | Getty’s paintings
Kellogg on Wednesday revealed that it could name its snack food unit Kellanova as part of its plan to separate into two independent public corporations.
Kellanova, which can include brands akin to Pringles and Cheez-Its, will retain the “K” stock designation currently utilized by food giant. The North American grain unit can be renamed WK Kellogg Co. The corporate said its ticker can be announced in the coming months.
In response to Steve Cahillane, CEO of Kellogg and future CEO, the use of the name “Kell” shows the recent company’s connection to Kellogg, while the Latin word “nova”, meaning recent, is meant to signal its ambition to be a world powerhouse in snack industry. from Kellanova.
The Kellogg’s name will remain on the brand’s packaging.
Kellogg said he asked employees for ideas for naming the two corporations and received greater than 4,000 submissions. Roughly one-fifth of the employees who submitted names suggested a variant of founder WK Kellogg’s surname for the grain industry.
The spinoff, which was announced in June, is scheduled for later this 12 months. The initial plan also included the sale or separation of the plant-based business that features Morningstar Farms. Nevertheless, Kellogg said in February that he modified course as consumer and investor interest in the category waned. As a substitute, he can be part of Kellanova.