The Kellogg Company (NYSE:K) said its board has formally approved the split into two separate publicly traded entities, effective October 2.
The newly formed WK Kellogg Co. will concentrate on North American cereal brands like Froot Loops and Frosted Flakes, while Kellanova will focus on snack foods and international growth.
Post-split, Kellanova will trade on the New York Stock Exchange under the ticker "K," while WK Kellogg Co. will trade under "KLG."
Kellanova is projected to generate net sales between $13.4 billion and $13.6 billion in 2024, while WK Kellogg Co. anticipates net sales of $2.7 billion in the same period.