1/9/2023 0 Comments Steve splittTotal Zone Rating and initial framework for Wins above Replacement calculations provided by Sean Smith.įull-year historical Major League statistics provided by Pete Palmer and Gary Gillette of Hidden Game Sports. Win Expectancy, Run Expectancy, and Leverage Index calculations provided by Tom Tango of, and co-author of The Book: Playing the Percentages in Baseball. Much of the play-by-play, game results, and transaction information both shown and used to create certain data sets was obtained free of charge from and is copyrighted by RetroSheet. Use without license or authorization is expressly prohibited. The SPORTS REFERENCE and STATHEAD trademarks are owned exclusively by Sports Reference LLC. Logos were compiled by the amazing .Ĭopyright © 2000-2022 Sports Reference LLC. Our reasoning for presenting offensive logos. We present them here for purely educational purposes. Kellogg hasn't decided yet how it will divide up its dividend among the three companies, Cahillane told CNBC.All logos are the trademark & property of their owners and not Sports Reference LLC. The global snacking company will keep its corporate headquarters in Chicago, with another campus in Battle Creek. Both the North American cereal company and the plant-based food spinoff will be located in Battle Creek, Michigan. Headquarters for the three businesses will remain unchanged. If completed, the spinoff offers investors another plant-based stock play besides Beyond Meat, which hasn't turned a quarterly profit in nearly three years and has seen its shares tumble 63% this year. Last year, the business reported $340 million in sales. Kellogg's plant-based division will use Morningstar Farms as its anchor brand. "It's a pretty stable business, somewhat declining," Cahillane told CNBC's Sara Eisen on "Squawk Box." following the announcement, adding he expects more innovation and brand building from the spinoff since its brands won't have to compete with Pringles or Cheez-It for resources. Kellogg expects it would generate stable revenue over time as a stand-alone company while improving profit margins. In the near term, the spinoff would focus on bouncing back from supply chain disruptions and regaining lost market share. The proposed North American cereal company last year saw sales of $2.4 billion. The tax-free spinoffs are expected to be completed by the end of 2023. The remaining business includes its snacks, noodles, international cereal and North American frozen breakfast brands. Combined, Kellogg's plant-based division and North American cereal business accounted for about 20% of the company's revenue last year. CEO Steve Cahillane said all three businesses have "significant" standalone potential, although the company is exploring alternatives including a potential sale for its plant-based business. Kellogg has been weighing spinoffs as a potential strategy since 2018, executives told investors on a conference call discussing the announcement on Tuesday. It's the legacy North American business that didn't fit management's plans, and today's announcement makes that final," Consumer Edge analyst Jonathan Feeney wrote in a note to clients. "Those who scratched their head in 2012 about the zero-overlap Pringles deal should scratch no longer. The pandemic briefly revived the cereal category as more consumers ate breakfast at home, but Kellogg expects flat revenue growth for its North American cereal business in the future. Brands including Special K, Froot Loops and Rice Krispies had for decades been a foundation of Kellogg, but are no longer seen as key growth drivers for the company. as people eat on the go and reach for a greater variety of options in the morning. On Monday, Mondelez said it is acquiring Clif Bar for $2.9 billion.Ĭereal sales, by contrast, have stagnated in the U.S. Kellogg, along with rivals like Frito-Lay-owner PepsiCo and Oreo-cookie owner Mondelez, have leaned into the trend by introducing more snacks and snapping up smaller brands. The announcement Tuesday comes a decade after Kellogg's $2.7 billion purchase of Pringles, which signaled the company's shift to focusing on the global snacks business with people increasingly eating more often between meals.
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