This morning's announcement by Kellogg Company (NYSE:K) to disconnect its North American cereal and plant-based foods businesses and create three new independent publicly-traded companies via a tax-free spinoff strategy caught many observers by surprise. However, industry experts welcomed the move, observing this strategy will enable the three soon-to-be-created companies to focus on their specific markets while Kellogg itself can focus on its primary corporate goals.
What Happened: The three businesses that are being separated from the parent company account were identified by Kellogg as the following:
