Kellogg plan to spin off its cereal and plant-based foods businesses is renewing focus on corporate breakups in the U.S. food industry.
Campbell Soup General Mills and other food makers for years have built out their baskets of brands, acquiring newer, trend-aligned products and pushing into other supermarket segments, such as pet food. Those acquisitions have brought new growth to food companies, while the stalwart brands that built the companies have in some cases stagnated or shrunk, dragging on the overall business, analysts said.
