Post Holdings To Combine Post Foods & MOM Brands Cereal; Chris Neugent To Lead

(RTTNews) - Post Holdings, Inc. (POST) announced plans to consolidate its Post Foods and MOM Brands cereal businesses into one group, to be headquartered in Lakeville, Minnesota, at MOM Brands' existing facilities. The combined business, called Post Consumer Brands, will be led by MOM Brands President Chris Neugent.

The company plans to close its office in Parsippany, New Jersey, by May 2016. The decision will impact approximately 200 employees across the businesses. Post said the expenses in connection with these decisions, will not impact its previously announced guidance for fiscal 2015.