Kellogg forecasts annual sales of up to $13.6 billion for snacks business ahead of split
(Reuters) — Packaged food maker Kellogg (NYSE:K) said on Wednesday its snacking business Kellanova is expected to report full-year sales between $13.4 billion and $13.6 billion after Kellogg separates into two units at the end of the year.
Kellanova — which will house the Pringles, Cheez-It and Pop-Tarts snack brands among others — is also expected to report an annual adjusted profit between $3.55 and $3.65 per share, Kellogg said.
Kellogg last year unveiled plans to split the company to sharpen its focus on the snack business.
The cereal business, WK Kellogg, which will be home to brands including Kellogg's and Froot Loops, is expected to post full-year net sales of $2.7 billion.
Earlier this month, Kellogg forecast a smaller drop in annual profit than previously expected following multiple price hikes for its breakfast snacks and cereals.
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