Kellanova, formerly known as the Kellogg Company, is an American multinational corporation, owned by Mars Inc., headquartered in Chicago, Illinois, and known for food manufacturing. The company became known as Kellanova on October 2, 2023, with the company's North American cereal operations spun off to form the WK Kellogg Co at the same time. The name combines "Kell" (from the Kellogg Company) with the Latin word nova, meaning "new".3 It was founded by Will Keith Kellogg.1 It employed about 33,600 people in 2016.1 Its revenue was $15.3 billion in 2022.1 Its shares trade on NYSE under the symbol K.1Wikipedia text CC BY-SA 4.0
Kellanova, formerly known as the Kellogg Company, is an American multinational corporation, owned by Mars Inc., headquartered in Chicago, Illinois, and known for food manufacturing.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue11121310$12.7B in 2024−6% since 2018Gross profit141115$4.3B in 2023−9% since 2018Operating income11121310$1.9B in 2024+10% since 2018Net income11121310$1.3B in 2024+1% since 2018
Revenue161718$3.3B in Q3 FY2025+6% since Q1 FY2025Operating income161718$452.0M in Q3 FY2025+5% since Q1 FY2025Net income161718$309.0M in Q3 FY2025+2% since Q1 FY2025
Total assets1411121510$15.6B in 2024−12% since 2018Shareholders’ equity1411121510$3.8B in 2024+45% since 2018Cash121510$694.0M in 2024+116% since 2018Long-term debt1411121510$5.0B in 2024−43% since 2018
Total assets161718$15.6B in Q3 FY2025+0% since Q1 FY2024Shareholders’ equity161718$4.2B in Q3 FY2025+11% since Q1 FY2024Cash161718$240.0M in Q3 FY2025−65% since Q1 FY2024Long-term debt161718$4.3B in Q3 FY2025−13% since Q1 FY2024
Cash from operations11121310$1.8B in 2024+15% since 2018Capital spending11121310$628.0M in 2024+9% since 2018Free cash flow11121310$1.1B in 2024+18% since 2018Dividends paid11121310$776.0M in 2024+2% since 2018Share buybacks11121310$0 in 2024
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Kellanova sits at the top of its group. 199 entities, 50 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Kellanova
Northern TrustFiled SCHEDULE 13G/A on Kellanova, latest Feb 17, 2026 (6 filings since Feb 8, 2022)
KELLOGG W K FOUNDATION TRUSTFiled SCHEDULE 13G/A on Kellanova, latest Feb 13, 2026 (6 filings since Feb 9, 2022)
농심 켈로그 주식회사 Subsidiary · 90% · Anseong-si, South Korea
545 LLC Subsidiary · Delaware, United States
Afical - Industria e Comercio de Alimentos Ltda Subsidiary · Brazil
Afical Holding LLC Subsidiary · Delaware, United States
Alimentos Gollek S.A. Subsidiary · Venezuela
Alimentos Kellogg de Panama SRL Subsidiary · Panama
Alimentos Kellogg, S.A. Subsidiary · Venezuela
AQFTM, Inc. Subsidiary · Delaware, United States
Argkel, Inc. Subsidiary · Delaware, United States
Austin Quality Foods, Inc. Subsidiary · Delaware, United States
BDH, Inc. Subsidiary · Delaware, United States
Bisco Misr Subsidiary · Egypt
Canada Holding LLC Subsidiary · Delaware, United States
Cary Land Corporation Subsidiary · North Carolina, United States
CC Real Estate Holdings, LLC Subsidiary · Michigan, United States
Eighteen94 Capital, LLC Subsidiary · Delaware, United States
Favorite Food Products Limited Subsidiary · United Kingdom
Gardenburger, LLC Subsidiary · Delaware, United States
Gollek Argentina S.R.L. Subsidiary · Argentina
Gollek B.V. Subsidiary · Netherlands
Gollek Interamericas, S. de R.L. de C.V. Subsidiary · Mexico
and 177 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Kellanova reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our corporate headquarters are located in Chicago, Illinois and we maintain corporate offices and our principal research and development facilities in Battle Creek, Michigan.
We operated, as of February 21, 2025, offices, manufacturing plants and distribution and warehousing facilities totaling more than 32 million square feet of building area in the United States and other countries. Our plants have been designed and constructed to meet our specific production requirements, and we periodically invest money for capital and technological improvements. At the time of its selection, each location was considered to be favorable, based on the location of markets, sources of raw materials, availability of suitable labor, transportation facilities, location of our other plants producing similar products, and other factors. Our manufacturing facilities in the United States are located in San Jose, California; Rome, Georgia; Kansas City, Kansas; Pikeville, Kentucky; Grand Rapids and Wyoming, Michigan; Blue Anchor, New Jersey; Cary, North Carolina; Cincinnati and Zanesville, Ohio; Muncy, Pennsylvania; and Jackson, Tennessee.
The rest of Item 2
Outside the United States, we had, as of February 21, 2025, additional manufacturing locations, some with warehousing facilities, in Australia, Belgium, Brazil, Colombia, Ecuador, Egypt, Ghana, Great Britain, India, Japan, Malaysia, Mexico, Nigeria, Poland, South Africa, South Korea, Spain, Thailand, and Turkey.
We own many of our principal properties, including our principal research and development center and manufacturing facilities in the United States, and no owned property is subject to any major lien or other encumbrance. We lease our corporate headquarters, our distribution facilities (including related warehousing facilities) and offices of non-plant locations. In general, we consider our facilities, taken as a whole, to be suitable, adequate, and of sufficient capacity for our current operations.
On June 21, 2022, Kellogg's announced a plan to spin off its three cereal, snacks, and plant-based food divisions into separate companies. The North American cereal and plant-based food spin-off companies were to keep Battle Creek as their headquarters and the new snack and international cereal company would be based in Chicago. The successor company, known as Global Snacking Co. temporarily, represented 80 percent or $11.4 billion of Kellogg's sales. Sixty percent of Global Snacking's business was snacks, and nearly half of the company's business was in the United States. The cereal business, temporarily called North America Cereal Co., was to be the second-largest American cereal company and the largest in Canada and the Caribbean, with 5 of the top 11 brands and $2.4 billion in annual sales. Plant-based foods, representing $340 million in annual sales, were to be called "Plant Co." and could potentially be sold.
In January 2023, Kellogg's shelved its plans to spin off its plant food business and retained it as part of Global Snacking Co. On March 15, 2023, Kellogg's announced that the North America Cereal Co. branch would be named WK Kellogg Co and the Global Snacking Co. branch would be called Kellanova. The split was structured with Kellanova as the surviving company, using the ticker symbol "K" on the NYSE. The WK Kellogg Co took the NYSE stock symbol "KLG". The split was completed on October 2, 2023.
On August 14, 2024, Mars Inc. agreed to purchase Kellanova for nearly $30 billion. The purchase, originally planned to close in the first half of 2025, was approved by the Federal Trade Commission (FTC) in the US but it was delayed to December 11, 2025, due to the European Commission not approving the deal until December 8, 2025.
The acquisition was completed on 11 December 2025, with Kellanova being integrated into Mars. Kellanova CEO Steve Cahillane stepped down from the company following the acquisition and the company was delisted from the New York Stock Exchange.
Below is a list of Kellanova's cereals (international only) with available varieties:
Mascots
Licensed brands have been omitted because their mascots are simply the licensed characters themselves (for example, Spider-Man is the mascot of Spider-Man Spidey-Berry).
Oct 30, 2025Reported quarterly or annual results96
Jul 31, 2025Reported quarterly or annual results97
May 1, 2025Reported quarterly or annual results101
Feb 6, 2025Reported quarterly or annual results104
Oct 31, 2024Reported quarterly or annual results106
Aug 1, 2024Reported quarterly or annual results107
May 2, 2024Reported quarterly or annual results108
Feb 8, 2024Reported quarterly or annual results109
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
686 filings to the SEC since October 2021: 5 annual reports, 13 quarterly reports, 48 major events, 472 insider forms, 29 large holders, 119 other. The latest 20:
162 open-market trades by officers, directors and large owners since October 2021: 0 buys and 162 sales. Grants, option exercises and gifts are left out.
From the cover page of the 10-K filed Feb 21, 2025 (Section 12(b) of the Exchange Act).21
Risk factors and legal proceedings
The risks Kellanova names in Item 1A of its 10-K filed Feb 21, 2025: 43 risks under these headings, as written.21
Risks Related to the Merger
We may not complete the proposed Merger within the timeframe we anticipate or at all, which could have an adverse effect on our business, financial results and/or operations.
Uncertainties associated with the Merger could adversely affect our business, results of operations and financial condition.
Completion of the Merger is conditioned on, among other things, the receipt of certain regulatory approvals, which may not be received, may take longer than expected or may impose conditions that are
not presently anticipated or that cannot be met, and if these approvals are not received or waived (as applicable), the Merger will not be completed.
While the Merger Agreement is in effect, we are subject to restrictions on our business activities.
Failure to complete the Merger could adversely affect our business and the market price of our shares of common stock.
In certain instances, the Merger Agreement requires us to pay a termination fee to Acquiror, which could affect the decisions of a third party considering making an alternative acquisition proposal.
The Merger Agreement contains provisions that limit our ability to pursue alternatives to the Merger.
We have incurred, and will continue to incur, direct and indirect costs as a result of the Merger.
We and our directors may be subject to litigation challenging the Merger, and an unfavorable judgment or ruling in any such lawsuits could prevent or delay the consummation of the Merger and/or result in substantial costs.
Risks Related to Our Business
The other 33 risks
Our business is significantly impacted by general macroeconomic conditions, and accordingly, our business, results of operations and financial condition could be materially adversely affected by a negative macroeconomic environment or persistent macroeconomic challenges.
Pandemics, epidemics or disease outbreaks, may disrupt our business, including, among other things, our supply chain and production processes, each of which could materially affect our operations, liquidity, financial condition and results of operations.
Our results may be negatively impacted if consumers do not maintain their favorable perception of our brands.
Business disruptions could have an adverse effect on our business, financial condition and results of operations.
We may not achieve our targeted cost savings and efficiencies from cost reduction initiatives.
We may not realize the benefits we expect from revenue growth management.
Structural and Organizational Risks
We may not realize the anticipated benefits from the separation of WK Kellogg Co, which could harm our business.
The separation could result in substantial tax liability to us and our stockholders.
If we pursue strategic acquisitions, alliances, divestitures or joint ventures, we may not be able to successfully consummate favorable transactions or successfully integrate acquired businesses.
We may not be able to attract, develop and retain the highly skilled people we need to support our business.
Risks Related to Our Industry
Our results may be materially and adversely impacted as a result of increases in the price of raw materials, including agricultural commodities, packaging, fuel and labor.
Our results may be adversely affected by increases in transportation costs and reduced availability of or increases in the price of oil or other fuels.
We operate in the highly competitive food industry, including with respect to retail shelf space.
The changing retail environment and the growing presence of alternative retail channels, could negatively impact our sales and profits.
Our consolidated financial results and demand for our products are dependent on the successful development of new products and processes, identification of changing consumer and customer preferences and behaviors, and meeting these preferences and behaviors.
Adverse changes in the global climate or extreme weather conditions could adversely affect our business or operations.
Risks Related to Our Operations
A shortage in the labor pool, failure to successfully negotiate collectively bargained agreements, or other general inflationary pressures or changes in applicable laws and regulations could increase labor cost, which could have a material adverse effect on our consolidated operating results or financial condition.
Multiemployer pension plans could adversely affect our business.
Our postretirement benefit-related costs and funding requirements could increase as a result of volatility in the financial markets, changes in interest rates and actuarial assumptions.
We use available borrowings under the credit facilities and other available debt financing for cash to operate our business, which subjects us to market and counter-party risk, some of which is beyond our control.
We have a substantial amount of indebtedness.
An impairment of the carrying value of goodwill or other acquired intangibles could negatively affect our consolidated operating results and net worth.
Risks Related to Regulations and Litigation
We face risks related to tax matters, including changes in tax rates, disagreements with taxing authorities and imposition of new taxes.
If our food products become adulterated, misbranded or mislabeled, we might need to recall those items and may experience regulatory enforcement and product liability and/or consumer fraud claims if consumers are injured or damaged as a result.
Evolving tax, advertising, environmental, licensing, labeling, trade, food quality and safety, intellectual property, data privacy, artificial intelligence, or other regulations or failure to comply with existing regulations and laws could have a material adverse effect on our consolidated financial condition.
Our operations in certain emerging markets expose us to political, economic and regulatory risks.
Risks Related to Our Intellectual Property and Technology
Technology failures, cyber incidents, security incidents, privacy breaches or data breaches could disrupt our operations or reputation and negatively impact our business.
Our intellectual property rights are valuable, and any inability to protect them could reduce the value of our products and brands.
General Risk Factors
We are subject to risks generally associated with companies that operate globally.
Our performance is affected by general economic, political and social conditions and taxation policies.
Our operations face significant foreign currency exchange rate exposure and currency restrictions which could negatively impact our operating results.
Geopolitical and international regulatory events, uncertainty or other factors may have a negative effect on global economic conditions, financial markets and our business.
Potential liabilities and costs from litigation could adversely affect our business.
Legal proceedings
We are subject to various legal proceedings, claims, and governmental inspections, audits or investigations arising out of our business which cover matters such as general commercial, governmental regulations, antitrust and trade regulations, product liability, product labeling, environmental, intellectual property, employment and other actions. In the opinion of management, the ultimate resolution of these matters is not expected to have a material adverse effect on our financial position or results of operations.
