First Steps for the Kellanova Pringles Factory in Chonburi

Steve Cahillane, the Chairman and CEO of Kellanova, has recently declared that the construction of his company's newest Pringles plant in Chonburi, Thailand, had begun.

By 2025, the brand-new facility ought to be up and running, providing goods to customers throughout the Asia Pacific area.

“[It] was an important day for Kellanova as we broke ground on our newest Pringles plant in Chonburi, Thailand. The first phase of this Pringles plant will be operational in 2025, supplying to consumers in the Asia Pacific region. I joined our Asia Pacific, Middle East, and Africa Leadership Team and local leaders for the groundbreaking ceremony. The excitement was palpable as this is another important step on our journey to becoming the world’s best-performing snacks-led powerhouse. Thanks to our team in the region for your ongoing passion and commitment to our incredibly bright future,” Cahillane made the announcement.

About 60% of Kellanova's 2022 net sales came from snacks. In addition to participating in categories with above-average growth, including salty snacks, crackers, and portable wholesome snacks, Kellanova competes with beloved and highly differentiated brands, including Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, and more. Kellanova's snacks business spans the globe, with roughly 15% of its net sales coming from emerging markets. Kellanova's global snacks business grew its net sales on an organic basis at a compound annual growth rate of approximately 9% between 2019 and 2022.

In 2024, Kellanova expects to generate net sales of USD13.4-13.6bn and an adjusted-basis operating profit of USD1.85-1.90bn. With depreciation and amortization remaining at roughly 3% of net sales, this translates into an adjusted-basis EBITDA of USD2.25-2.3bn. Kellanova projects adjusted-basis earnings of USD3.55-3.65 per share. On a like-for-like basis that excludes WK Kellogg Co. from the 2023 base, these estimates translate into year-on-year growth that is in line with Kellanova's long-term algorithm.

“Kellanova is entering an exciting new era, in which we are building on what was already a strong business, applying a sharpened strategy, and taking our performance to the next level. The result is a compelling opportunity for value creation, marked by a more growth-oriented portfolio, better profit margins, and faster sales and profit growth, all propelled by a passionate and engaged organization with huge excitement for the future,” Cahillane declared in August 2023.