I suspect Kellog (or whoever owns them now I think General Mills) has written that entire operation off as a loss, and will probably deduct it on their taxes next year.
And as far as worrying about producing product under the Kellog brand, they may be able to get away with that within the borders of Venezuela, but they won’t be able to ship any product overseas for sale in other countries. Not if they try to brand the product “Kellog”. They may be able to if they sell it under another brand which I would suspect would be the “strategy” at this point.
Really though, they are (or should be) probably planning to just produce for domestic consumption. They have enough problems now feeding their own people there’s no rationale that makes sense to shipping and selling Venezuelan cereal product internationally. Not unless they want a riot on their hands in short order that would make all the riots up to this point look like a fiesta.
It’s a real shame what’s happened to that country. So much oil wealth totally squandered on a socialist fantasy. The good news, if there is any, is that since they still have a lot of oil they can still recover. But that’s only if the population wakes up from the current nightmare. I kind of suspect any future oil profits will go to keeping up appearances of a functioning government, and for oppressing the masses (excuse me, I mean “serving the people”).
I believe Kellog is a stand alone company, symbol K on the NYSE.
Kellog is one of those “socially responsible” companies aka lefty group. Here is a small portion of the posting on Wiki:
In January 2012, Kellogg’s gave the Calhoun School a $250,000 grant for a “three-part youth-based project on issues of white privilege and institutionalized racism”.[54] In August 2014, Kellogg’s called on the President to support the Paris Agreement on climate change.[55] In 2016, Kellogg Company urged President-elect Donald Trump to “continue the Paris Climate Agreement”.[56] Kellogg’s has donated to notable groups opposing voter-ID laws, such as the Applied Research Center (now RaceForward).[57] The company also decided to remove their advertisements from the Breitbart News website.[58] Breitbart News in turn called for a boycott of Kellogg’s products.[59]
So in my mind lay with dogs and expect to get fleas.