Post Consolidating Cereal Operations in Twin Cities Suburb
LAKEVILLE (AP) - Post Holdings Inc., which bought the Minnesota-based company that makes Malt-O-Meal, says it will consolidate its cereal operations in a Twin Cities suburb.
Post will keep its headquarters in St. Louis, Missouri, but said Friday it will close its office in Parsippany, N.J., where about 200 people are employed. Reports say the company expects to save $50 million annually by combining the cereal operations in Lakeville.
The combination of Post and MOM Brands merges the third- and fourth-largest cereal makers in the U.S. The combined business will be called Post Consumer Brands.
The two companies announced earlier this year that Post would spend about $1 billion for MOM Brands. The announcement in February had employees at MOM Brand headquarters in Lakeville concerned about the future of the facility.