Corporate spinoffs can be done for a number of reasons, but the most common reason is to attempt to unlock shareholder value by simplifying operations. A number of extremely successful companies were once spinoffs. Here’s a look at some spinoffs you may or may not remember.

• eBay Inc EBAY 0.58% spun off Paypal Holdings Inc PYPL 1.84%in 2015. Since the spinoff, Paypal shares are up 2.1 percent, while eBay stock has surged 20.5 percent.
• Energizer Holdings Inc ENR 3.24% was spun off from parent company Edgewell Personal Care Co EPC 1.07% in 2015. Energizer shares are up 38.3 percent since the split, while Edgewell shares have fallen 22.5 percent.
• The Sara Lee Corporation spun off both food business Hillshire Brands (later purchased byTyson Foods, Inc. TSN 0.77%) in 2010 and leather goods maker Coach Inc COH 2.02%back in 2000.
• McDonald’s Corporation MCD 0.64% opted to spin off Chipotle Mexican Grill, Inc. CMG 0.49% back in 2006. Chipotle has been one of the hottest stocks in the market in the years since, rising 839.4 percent.
• Back in 2012, Kraft, now of Kraft Heinz Co KHC 0.67%, spun off food giant Mondelez International Inc MDLZ 0.09%.

• Ocean Rig UDW Inc. ORIG 10.39% was a Dry Ships Inc. DRYS 2.96% spinoff back in 2011. Both stocks have been…

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