Kellogg’s cold cereal products are pictured in a market after Kellogg Company announced it would split into three independent companies, in the latest U.S. corporate overhaul aimed at simplifying its structure and sharpening its focus on the snack business, in New York, U.S., June 21, 2022. REUTERS/Mike Segar Feb 9 (Reuters) – Kellogg Co (K.N) surpassed market expectations for quarterly sales and profit on Thursday and said it would retain the plant-based meat business it had planned to spin-off. The Pringles maker had last year announced plans to separate the MorningStar Farms unit, representing 2% of the group’s sales, to focus on its mainstay cereal business. Kellogg said on Thursday the plant-based segment would remain in house after exploring strategic options for the profitable business. The move comes at a time when inflation-weary consumers curb purchases of pricier plant-based meat alternatives in favor of wallet-friendly animal meat, which has hurt demand at competitor Beyond Meat (BYND.O) . Still, Kellogg has said its plant-based business offers strong long-term growth prospects. "Kellogg’s plant-based business has faced a slowdown over the past year, similar to what other plant-based manufacturers are experiencing … It is probably not the best time to be searching […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
