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Kellogg Breakup Focuses on Packaged Food Conglomerates

Kellogg proposed spin-off of its grain and plant-based foods businesses renews focus on corporate breakups in the US food industry.

Campbell’s Soup General Mills and other food manufacturers for years have been building their brand baskets, acquiring new trend-aligned products and entering other supermarket segments, such as pet food. These acquisitions have brought new growth to the food businesses, while the loyal brands that built the businesses have in some cases stagnated or declined, dragging down overall business, analysts said.