May 2 (Reuters) - Pop-Tarts maker Kellanova ( K ) beat

Wall Street estimates for first-quarter sales and profit on

Thursday, boosted by higher prices and firm demand for its

breakfast cereals and ready-to-eat snacks.

The Rice Krispies maker's shares were up nearly 2% in

premarket trading.

Kellanova ( K ), which rebranded itself late last year, is known

for its diverse portfolio of brands like Grahams Crackers,

Nutri-Grain breakfast bars and frozen food like Morningstar

Farms.

The company, like other major brands in the packaged food

industry, has ramped up prices, banking on the popularity of its

premium products among consumers, particularly in North America.

Despite price increases and sticky inflation, consumers

remain loyal to their favorite snack brands, shunning cheaper

alternatives.

Kellanova ( K ), also home to internationally recognized cereal

brands such as Frosties and Special K, said its prices rose by

8.5% in the quarter, while organic sales volumes fell 3.1%.

The strong results echo sentiments from packaged food peer

Conagra Brands ( CAG ) that posted upbeat quarterly results last

month, helped by a rebound in demand for its pantry staples and

frozen foods.

Kellanova's ( K ) snacking business, formerly known as Kellogg,

reported net sales of $3.20 billion in the three months ended

March 30, above analysts' expectations of $3.16 billion,

according to LSEG data.

Higher prices also helped drive its adjusted gross margin to

35.7% from 31.0% a year earlier.

The company, which spun-off its North American cereal

business into WK Kellogg last year, posted an adjusted profit of

$1.01 per share for the quarter, surpassing expectations of 85

cents per share.