The Kellogg Company, one of the original perpetrators of Woke Capitalism, said Tuesday that it is breaking itself up into three independent companies.
The company will split into three publicly-traded companies whose names will be determined later, Kellogg said. The break-up, which is expected to be a tax-free transaction, has been approved by its board of directors.
“Kellogg has been on a successful journey of transformation to enhance performance and increase long-term shareholder value,” said Steve Cahilane, the company’s chief executive and board chairman.
Breitbart News reported in 2017:
Every time an American family picks up a box of Kellogg’s cereal at the grocery store, it is contributing to the wealthy radical leftwing foundation that agitates for open borders, supports George Soros’s Open Society Insitute, and pushes a host of leftwing causes.
The W.K. Kellogg Foundation is the largest shareholder of the Kellogg Company. According to its 2016 tax filing, the Kellogg Foundation’s trust owns approximately $5.2 billion of stock in the company, about 20 percent of the company’s equity. The other large holders are mostly passive investors such as mutual funds and their ownership is a fraction of the foundation’s. That means that the foundation effectively controls the famous cereal company.