Welcome to our dedicated page for Kellanova news (Ticker: K), a resource for investors and traders seeking the latest updates and insights on Kellanova stock.
Kellanova (NYSE: K), formerly part of the Kellogg Company, is a global leader in the production and marketing of snacks and packaged foods. With a legacy stretching back over 100 years and annual sales surpassing $13 billion, Kellanova offers a diverse product portfolio that includes iconic brands like Pringles®, Cheez-It®, Pop-Tarts®, Eggo®, and MorningStar Farms®. As a powerhouse in the snacking industry, Kellanova's products are manufactured in around 20 countries and marketed in more than 180 countries worldwide.
Following its strategic split from the North American cereal business, Kellanova has focused on becoming a leader in salty snacks, snack bars, frozen breakfast items, meat alternatives, and other packaged foods. The company’s commitment to sustainability and equitable food access is embodied in its ambitious goal to create Better Days for 4 billion people by 2030.
Kellanova has recently made headlines with several notable initiatives. For instance, their brand Eggo® has partnered with the National Black Growers Council (NBGC) to support Black farmers through grants aimed at improving farming efficiency and productivity. This partnership aligns with Kellanova's mission of fostering sustainable and equitable food systems.
Moreover, the launch of the Eggo House of Pancakes in Gatlinburg, Tennessee, offers a unique vacation experience, reinforcing Eggo's brand while providing chaos-free mornings for guests. Not to be outdone, Hidden Valley Ranch and Cheez-It® have collaborated to introduce a new product, Cheezy Ranch, combining the rich flavors of ranch and cheese into a delectable dipping sauce.
In terms of financial performance, Kellanova has shown consistent growth, with net sales reaching $13 billion in 2023. The company continues to innovate and expand its product offerings while leveraging advanced AI technologies to optimize supply chain efficiencies, improve e-commerce search, and better understand consumer needs.
With a clear vision to become the world's best-performing snacks-led powerhouse, Kellanova is well-positioned for future growth. Under the leadership of Steve Cahillane, Chairman, President & CEO, and Amit Banati, Vice Chairman & CFO, the company remains committed to delivering value to its stakeholders while advancing sustainable and equitable food access globally.
For more detailed information, visit Kellanova's website and stay updated on their latest developments and financial results.
Imperial Dade, a leading North American distributor of foodservice packaging supplies, industrial products, and janitorial supplies, has appointed Fareed Khan as Chief Financial Officer, effective September 9, 2024. Khan brings over two decades of leadership experience, having previously served as CFO at JustFoodForDogs, Kellogg (NYSE: K), and US Foods. At Imperial Dade, Khan will oversee Accounting, Finance, Tax, Internal Audit, and Shared Services functions.
Khan's appointment is expected to strengthen Imperial Dade's financial strategies and support its continued growth. His experience in scaling distribution businesses and enhancing financial infrastructure aligns with the company's expansion goals. CEO Jason Tillis expressed enthusiasm about Khan's addition to the team, highlighting his strategic and financial acumen as key assets for driving Imperial Dade's robust growth.
Moe's Southwest Grill® is adding Cheez-It® crackers to its menu for a time starting September 3, 2024. Guests can add Cheez-It Original Crackers to any entrée at no extra cost while supplies last. This collaboration aims to enhance customization options and bring a cheesy crunch to Moe's offerings.
The crackers can be added to burritos, bowls, stacks, nachos, quesadillas, tacos, or served on the side with Moe's Famous Queso. This addition complements Moe's existing selection of over 20 fresh and free ingredients. The partnership follows Moe's recent collaborations, including Mike's Hot Honey and new protein options like Shredded Beef Birria and Tequila Lime Chicken.
Eggo, in partnership with Two Rivers Coffee Company, has launched Eggo Coffee, its first-ever caffeinated product. This new line combines the taste of Eggo waffles with premium coffee in five flavors: Blueberry, Chocolate Chip, Cinnamon Toast, Maple Syrup, and Vanilla. The coffee is available in K-Cup pods compatible with Keurig brewers, sold on Amazon, Walmart.com, Target.com, and TwoRiversDirect.com. Prices range from $7.99 for 12-count packs to $24.99 for 40-count packs.
To celebrate the launch and National Waffle Day, Eggo is opening a pop-up Eggo Coffee Café in NYC from August 21-25. Additionally, a nationwide giveaway will offer 20,000 free cups of coffee and waffles through eggogiveaway.com from August 21-25.
Nothing Bundt Cakes and Pop-Tarts® have collaborated to launch a -time 'Crazy Good' Frosted Strawberry Pop-Tarts cake flavor. Available from Aug. 19 to Sept. 1, 2024, this new Bundtlet features strawberry cake with baked-in Frosted Strawberry Pop-Tarts pieces, topped with cream cheese frosting, confetti sprinkles, and a Pop-Tarts Pastry Bite. The collaboration aims to bring a nostalgic taste to Nothing Bundt Cakes' offerings.
To promote the launch, Nothing Bundt Cakes is giving away two tickets to the Pop-Tarts® Bowl on Dec. 28 in Orlando. The brand is expanding its -time pop-up flavors, catering to the growing 'little treat' culture among Gen Z. Nothing Bundt Cakes offers various sizes and flavors of bundt cakes, including seasonal and gluten-free options.
Mars to acquire Kellanova for $35.9 billion, uniting two iconic snacking businesses. The all-cash transaction offers $83.50 per share, representing a 44% premium to Kellanova's unaffected 30-day average price. This strategic move will expand Mars' snacking portfolio, adding popular brands like Pringles, Cheez-It, and Pop-Tarts. The deal aims to accelerate Mars' ambition to double its snacking business in the next decade, enhancing its global reach and product diversity. The acquisition is expected to close in the first half of 2025, subject to shareholder and regulatory approvals. Both companies emphasize their commitment to sustainability and responsible marketing practices.
Rice Krispies Treats, a brand of Kellogg Company (NYSE: K), is offering a unique summer experience with its 'Re-Treat Suite' at the Red Jacket Beach Resort in Cape Cod, Massachusetts. This immersive suite, inspired by the iconic snack and summer sleepovers, features a Rice Krispies Treats-themed bed, bunk beds with a slide, a marshmallow pillow fort, and an in-room 'Treat Yourself' bar. The suite accommodates up to six guests and is available for five two-night stays in August at no cost to families and fans.
Bookings open on a rolling basis starting August 12, 2024, at 12 PM EST on RiceKrispiesTreatsReTreat.com. This marketing initiative aims to extend the summer fun and create lasting memories for families before the back-to-school season begins.
Pop-Tarts, a brand under Kellanova (NYSE: K), has introduced its largest toaster pastry ever: the Pop-Tarts Party Pastry. This supersized treat is 73 times larger than traditional Pop-Tarts and can serve up to 73 people. Inspired by the brand's iconic strawberry flavor, it features a golden crust, strawberry-flavored filling, frosting, and sprinkles. The Party Pastry is available for a time in New York, Los Angeles, and Chicago starting August 7, 2024, at 1 pm ET.
Priced at $60 (including delivery) to celebrate Pop-Tarts' 60th birthday, the Party Pastry can be personalized with frosting phrases for various occasions. It will be delivered in a massive three-foot-tall box mirroring the brand's traditional packaging. This launch aims to evoke childhood nostalgia and turn end-of-summer moments into celebrations.
Kellanova (NYSE: K) has released its 2024 second quarter earnings results, available on the company's investor relations website. The release includes financial press release and tables, GAAP reconciliations, and presentation slides. A Form 8-K has been filed with the SEC. Kellanova will host a webcast on August 1, 2024, from 9:30 am to 10:30 am ET, featuring Chairman, President and CEO Steve Cahillane and Vice Chairman and CFO Amit Banati. The presentation will be followed by a Q&A session with analysts. Live audio webcast, presentation slides, rebroadcast, podcast, and transcript will be available on the investor relations website. The rebroadcast and podcast will be accessible from 1:00 pm ET on August 1, while the transcript will be available from 9:00 am ET on August 2.
Kellanova (NYSE: K) has announced a regular dividend of $0.57 per share on its common stock. The dividend will be payable on September 13, 2024, to shareholders of record at the close of business on September 3, 2024. The ex-dividend date is also set for September 3, 2024. This marks the 399th dividend that Kellanova, formerly known as Kellogg Company, has paid to common stock owners since 1925. The announcement demonstrates Kellanova's commitment to returning value to shareholders and maintaining its long-standing dividend payment tradition.
Kellanova, formerly Kellogg Company, has announced an expansion of its partnership with Interpublic Group (IPG) to accelerate global brand growth. This decision follows an extensive evaluation of Kellanova's global agency model to support its journey as a global snacking powerhouse. Key changes include:
- FCB (IPG) will lead global creative duties for priority brands like Pringles
- Publicis continues to lead creative for some snack brands and international cereal
- Tombras appointed for selected smaller U.S. brands
- Weber Shandwick continues U.S. PR for priority brands
The move aims to enhance creative prowess, strategic consistency, and future-fit capabilities. Charisse Hughes, SVP & Chief Growth Officer, emphasized selecting agencies with a digital-first approach and creative firepower to supercharge brand growth. The new agency appointments are effective immediately, with work for 2025 beginning next month.
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