Plant Co.

Close-up image of MorningStar Farms cooked plant-based burger on bun with toppings

A leading, profitable, pure-play, plant-based foods company, anchored by the MorningStar Farms brand.

Plant Co. Profile

Kellogg’s leading plant-based business has enjoyed an impressive history in its category and has several avenues for continued growth and expansion.

Kellogg intends to separate Plant Co. as an independent business through a spin-off, while also exploring other strategic alternatives, including a possible sale.

The business has a proven winner with the MorningStar Farms brand, which Kellogg has grown since its acquisition 20 years ago to have the highest share and household penetration in the frozen vegetarian / vegan category.

As an independent business, Plant Co. will have the opportunity to build on its strong base of growth and profitability, focusing its resources and investments towards capitalizing on strong category prospects, by building awareness and penetration in North America, and expanding internationally in the future.

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~$340 M*

est. annual net sales

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~$50 M*

est. adj. EBITDA

*All net sales and adjusted-basis EBITDA figures are based on the Company’s 2021 unaudited results derived from internal management reporting, further adjusted for splits by brands and markets, as well as preliminary cost and expense allocations, including corporate expenses; these figures will be refined prior to the transactions. Please refer to the reconciliations of adjusted-basis EBITDA, a non-GAAP financial measure, to reported operating profit in the press release about this announcement.

Our Brands

Gardenburger logo
Incogmeato MorningStar Farms logo
MorningStar Farms logo

List of brands is meant to be indicative and not exhaustive.

Kellogg employee checking cereal boxes in a factory

What this portfolio transformation means for our employees

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