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The Kellogg Company has announced plans to separate into three independent companies, as it looks to restructure its cereal and plant-based portfolios. The US food giant says it will separate its North American cereal and plant-based foods businesses via tax-free spin-offs, "resulting in three independent public companies, each better positioned to unlock their full standalone potential". The separated businesses, whose names are yet to be determined, will consist of Global Snacking Co, which is made up of brands including Pringles, Cheez-It and Pop-Tarts; North America Cereal Co, including Corn Flakes, Frosted Flakes and Fruit Loops; and Plant Co, which will consist of the growing its MorningStar Farms brand. Upon separating its Plant Co business through the spin-off, Kellogg says it will also explore other strategic avenues, such as a potential sale. Kellogg chairman and CEO, Steve Cahillane, said: "Kellogg has been on a successful journey of transformation to enhance performance and increase long-term shareowner value. This has included re-shaping our portfolio, and today's announcement is the next step in that transformation." He continued: "These businesses all have significant standalone potential and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities. In turn, each business is expected to create more value for all stakeholders and each is well-positioned to build a new era of innovation and growth." The proposed plans will enable greater strategic, operational and financial focus for each business, ultimately enhancing their performance and value. Kellogg expects North America Cereal Co to precede the Plant Co spin-off, with both expected to be completed by the end of 2023.