Cereal giant Kellogg’s has changed its name — but the company says the new moniker won’t be seen on cereal boxes.
The company operating in Australia is now officially called Kellanova, after announcing a separation from the North American part of its business, now WK Kellogg Co, on Monday.
However, the name Kellogg’s will continue to appear on boxes of Nutri-Grain, Corn Flakes, Special K, Coco Pops, Froot Loops, Rice Bubbles, and other cereal and snack staples sold by Kellanova.
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“While the company’s corporate name has changed to Kellanova, the Kellogg’s brand will remain on its products around the world and in Australia,” a Kellanova spokesperson told 7NEWS.com.au.
“Consumers will still be able to buy the brands they know and love, with no change to the distinctive and globally recognised ‘Kellogg’s’ brand name.”
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It is hoped the split into two independent public companies will boost profits and allow the full potential of each business to be recognised.
“Kellanova will operate in Australia with a growth mindset, a renewed strategy, and ambitious financial expectations,” the spokesperson told 7NEWS.com.au.
“The business is building on what is already a strong base and a track record of growth, and applying to it a greater focus and a renewed strategy.
Kellanova chairman and CEO Steve Cahillane said in a statement: “With the completion of the separation, Kellanova has entered a new era with a new name and a new ambition.”
Distribution of the companies’ shares signalled the successful separation.
“The separation was achieved through the distribution of all of the shares of WK Kellogg Co to holders of Kellanova common stock,” Kellanova said.
“Kellanova shareowners received one share of WK Kellogg Co common stock for every four shares of Kellanova common stock held.”
WK Kellogg Co will now trade on the stock market as KLG, and Kellanova as K, with Kellanova projecting net sales of “approximately $13.4-13.6 billion” in 2024.
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