Chicago / IL. (kc) Kellanova, formerly known as Kellogg Company, announced the completion of the previously announced separation of its North American cereal business, WK Kellogg Co, resulting in two independent, public companies, each positioned to unlock its full standalone potential.
The separation was achieved through the distribution of all of the shares of WK Kellogg Co to holders of Kellanova common stock on October 02, 2023, with Kellanova shareowners receiving one share of WK Kellogg Co common stock for every four shares of Kellanova common stock held as of the close of business on the record date of September 21, 2023.
WK Kellogg Co will begin regular way trading on the iconic New York Stock Exchange (NYSE) under the ticker symbol «KLG,» and Kellanova will continue to trade on the NYSE under the ticker symbol «K.»
Kellanova will file its material separation agreements with WK Kellogg Co with the U.S. Securities and Exchange Commission (SEC). Please visit kellanova.com for supplemental business and other information regarding the separation. A dedicated website providing ongoing information about the separation is available at unleashingourpotential.com.
«With the completion of the separation, Kellanova has entered a new era with a new name and a new ambition,» said Steve Cahillane, Kellanova’s Chairman and CEO. «We are starting from a position of strength that is rooted in a century-old legacy as we embark on a journey to achieve our vision of becoming the world’s best performing snacks-led powerhouse.»
WK Kellogg: celebrates (also) launch as independent company
Battle Creek / MG. (klg) WK Kellogg Co is celebrating its launch as an independent, publicly traded company with the completion of its planned separation from Kellanova , formerly Kellogg Company, on October 02, 2023. The company now trades on the New York Stock Exchange under the ticker symbol KLG.
WK Kellogg Co is a leading food company in the U.S., Canada, and Caribbean with a deep heritage of innovation and operational success, supported by its portfolio of trusted, beloved brands including Kellogg’s, Frosted Flakes, Froot Loops, Mini-Wheats, Special K, Raisin Bran, Rice Krispies, Corn Flakes, Kashi, and Bear Naked, that have delighted consumers for more than a century.
«Today is a defining moment for all of us at WK Kellogg Co. With the spirit of a start-up and a strong foundation of iconic brands and characters, we are writing the next chapter of our founder W.K. Kellogg’s original story. We are confident that as a standalone, publicly traded company, we are well positioned to deliver on our strategic objectives, win in cereal and create value for customers, consumers, employees, communities and shareholders,» said Gary Pilnick, Chairman and Chief Executive Officer of WK Kellogg Co.
«On behalf of the WK Leadership Team and the Board, I want to thank our 3,000+ employees for their hard work and dedication in getting us to this exciting stage. It is a privilege to launch this company and celebrate this milestone alongside them.»