Kellogg will not split off its plant-based brands

Its decision not to sell off the segment, which includes the MorningStar Farms brand, comes as product sales in the plant-based category continue to stagnate.

The company as a whole beat Wall Street expectations in its last quarter, with sales increasing 12% compared to the year-ago period, reaching $3.83 billion. Prices of Kellogg’s products increased 15.6% compared to a year before.

After facing labor and supply chain challenges in its cereal business and announcing its intention to split into three companies last year, Kellogg is changing course to manage the struggling parts of its portfolio as it reaps the rewards of high inflation in others.

Food Dive