Morgan Stanley lays out compelling strategic rationale for transaction.

Fewer SKUs, broader distribution part of plan, CEO says.

‘Baked the Right Way’ shares brands’ baking philosophy.

Minnie Marie Bakers, formerly Awrey Bakeries, was sold twice this century.
 

Spun-off company intends to make Pringles, Cheez-It, Rice Krispies Treats and Pop-Tarts global brands.

Company plans to spend between $450 million and $500 million to upgrade its manufacturing footprint.

Company lowered its outlook for fiscal 2023.

Seeks to cut 25% of Scope 1 and 2 carbon footprint by 2030.

The company sees international opportunities, too
 

Stock price plunges after second-quarter sales drop 11%.