Baking & Snack - November 2023 - 10

Kellogg completes
cereal business spin-off
Battle Creek, Mich.-based Kellogg Co. completed the separation
of its North American cereal business. Going forward, that business
will be called the WK Kellogg Co while the company's global
snack business will be called Kellanova.
The separation was achieved through the distribution of all the
Time magazine recognizes
Grupo Bimbo SAB de CV
Grupo Bimbo SAB de CV was recognized by Time magazine as
one of the " World's Best Companies, " the first time the Mexico
City-based baking company has made the ranking, which is compiled
by Time and market research provider Statista.
Grupo Bimbo is ranked 113 out of 750 companies analyzed and
is the highest-ranked Mexican company on the list. It finished
fourth in the world within the food and beverages category, behind
The Coca-Cola Co., Nestle and Procter & Gamble.
The list considers three main factors: employee satisfaction,
financial growth in income and sustainability achievements.
Time and Statista then use a 100-point scale to come up
with a score for each company. Grupo Bimbo's overall score was
87, with a sustainability rank of 291.
" This recognition as one of the 'World's Best Companies' reflects
the work and passion of the more than 145,000 Grupo
Bimbo associates, " said Daniel Servitje, chairman and chief executive
officer of Grupo Bimbo. " Since our foundation, we have
sought to be an agent of change that positively impacts the communities
in which we operate and contributes to the care of our
natural ecosystems. "
- Eric Schroeder, Milling & Baking News
Paul Chan, longtime
bakery executive, dies
Paul Chan, a bakery executive who worked for several food companies
over the course of his long career, died on Sept. 1, 2023.
Mr. Chan started his baking career after serving six years in the
US Air Force before attending the American Institute of Baking.
He spent many years with East Balt Bakeries, Chicago, where
he held regional manager roles in both China and the United
Kingdom, and Denver-based Mile Hi Bakery. In 2019, he came
out of a short retirement and served as a consultant/engineer with
Steven Charles Desserts, Aurora, Colo. Mr. Chan was most recently
general manager at Dawn Foods in Denver.
10 Baking & Snack November 2023 / www.bakingbusiness.com
shares of WK Kellogg Co to holders of Kellanova common stock
just after midnight on Oct. 2, with Kellanova shareowners receiving
one share of WK Kellogg Co common stock for every four
shares of Kellanova common stock held as of the close of business
on Sept. 21, 2023.
The WK Kellogg Co began trading on the New York Stock
Exchange (NYSE) under the ticker symbol " KLG; " Kellanova will
continue to trade on the NYSE under the ticker symbol " K. "
The WK Kellogg Co is forecast to generate $2.7 billion in annual
sales in 2024, operate six manufacturing plants, employ 3,000
and manage a portfolio of well-known cereal brands.
Kellanova will have approximately $13 billion in annual sales
and employ more than 24,000. Key product categories in its portfolio
will include snacks and frozen foods. Fifty percent of the
new business' sales will come from five brands, including Pringles,
Cheez-It, Rice Krispies Treats, Pop-Tarts and Eggo.
- Keith Nunes, Food Business News
Mondelez names startups
to accelerator program
Nine startups have been selected to participate in the inaugural
class of Chicago-based Mondelez International's SnackFutures
CoLab Tech accelerator program. Entrepreneurs representing
alternative ingredient, food safety, improved manufacturing and
regenerative agriculture technologies will receive access to the
company's global network of partners and experts.
The nine participants include: Captic, helping food processors
identify profit and cost-savings opportunities; Computonics, using
metagenomics analysis to monitor pathogens; Cultivated
Biosciences, using fermentation technology to produce a dairyfree
ingredient; Eggmented Reality, using precision fermentation
to develop customized functional ingredients; Epogee, a developer
of a modified plant-based oil that reduces calories; Protein,
a producer of farm-free proteins using a continuous carbon
dioxide fermentation technology; SoilTech Wireless, developing
wireless sensing technology to improve the global agricultural
supply chain; Stephane Thermal Runs, creating unique sensors to
optimize thermal profiling in baked snacks; and WNWN Food
Labs, using fermentation to create alternative cocoa ingredients.
- Monica Watrous, Food Business News
http://www.bakingbusiness.com
Baking & Snack - November 2023

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