Kellogg Co, the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, snacks and plant-based foods. Kellogg’s which also owns MorningStar Farms, the plant-based food maker, said Tuesday, June 21,  the spinoff of the yet to be named cereal and plant-based foods companies should be completed by the end of next year.

Kellogg’s had net sales of $14.2 billion in 2021, with $11.4 billion generated by its snack division. Cereal accounted for another $2.4 billion in sales last year while plant-based sales totalled around $340 million.

“These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities,” said CEO Steve Cahillane.

The company’s headquarters will move from Battle Creek, Michigan, to Chicago, but it will maintain dual headquarters in both cities for its snack division, which makes up about 80% of current sales.