K - Kellogg Decides to Keep Its Plant-Based Meat Business. Is It a Hidden Gem for Shareholders?
Kellogg (NYSE: K) is in the process of making over its business with an eye on boosting its growth profile. There have been huge changes, with one of the biggest still on the horizon. The game plan, however, has been altered just a little bit. Management now planning to keep its Morningstar Foods brand in-house even as it continues with plans to exit the U.S. cereal business.
Here's why this plant-based meat brand is staying in-house and why that's good for shareholders.
Not too long ago, consumer staples icon Kellogg was full of old, stodgy brands. Slow growth was basically the best that could be hoped for the company. Investors were downbeat on the business as its competitors increasingly shifted toward more growth-oriented products in the food industry , such as snacks.
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Kellogg Decides to Keep Its Plant-Based Meat Business. Is It a Hidden Gem for Shareholders?