Kellogg Company successfully completes separation into two independent, publicly traded companies, Kellanova and WK Kellogg Co.

On October 2, 2023, Kellogg Company completed its previously announced transaction separating into two independent, publicly traded companies, Kellanova and WK Kellogg Co. Kellanova will continue to operate the global snacking, international cereal and noodles, plant-based foods and North American frozen food industries, while WK Kellogg has acquired the North American cereal business.

Fasken represented Kellogg Company in Canada and its Canadian subsidiary on all aspects of the transaction, including the sale of the Canadian cereal assets to WK Kellogg Canada Co., effected through a butterfly transaction pursuant to an income tax ruling issued by the Canada Revenue Agency.

The Fasken team that advised on this matter was led by Barbara Miller, and included Matthew Rebus and Luisa Ferron (Law Clerk/Paralegal) (Corporate); Mitchell Thaw and Devon LaBuik (Tax Law); Alix Herber (Labour, Employment & Human Rights); Aaron Stefan and Lu Chen (Banking & Finance); Seher Goderya and Rosa DeFilippis (Real Estate Law); Daniel Fabiano (Privacy & Cybersecurity); and Huy Do (Competition).