Kellogg (K) announces split into two independent companies

BATTLE CREEK, Mich. — Just under a year after the Kellogg Company announced its plans to split into three independent companies, the cereal giant formally announced Wednesday it will split into two companies.

The company announced it will split into the following:

• Global snacking business to be named Kellanova (K)

• North American cereal business to be named WK Kellogg Co. (KLG)

The Kellogg's brand is to remain on product packaging of both companies around the world, according to the press release.

WK Kellogg Co. is set to be the food company in the U.S., Canada, and Caribbean, carrying the brand-names that includeKellogg's, Frosted Flakes, Froot Loops, Mini-Wheats, Special K, Raisin Bran, Rice Krispies, Corn Flakes, Kashi, and Bear Naked, according to the news release.

Kellanova was described as the "global snacking powerhouse," expected to include brands likePringles, Cheez-It, Pop-Tarts, Kellogg's Rice Krispies Treats, MorningStar Farms, Incogmeato, Gardenburger, Nutri-Grain, RXBAR, and Eggo, the release states.