Cereal Maker Post To Move HQ From Missouri To Minnesota
ST. LOUIS (AP) — Post Holdings says it will close its New Jersey operations and consolidate its cereal businesses, headquartering them in Minnesota in a move that will affect about 200 employees.
Post spokesman Brad Harper said Friday the majority of employees affected will be those in the Parsippany, New Jersey, office the company plans to shutter within a year. It's not immediately clear how soon the consolidated Post Foods and newly acquired MOM Brands cereal businesses will relocate to Lakeville, Minnesota.
St. Louis-based Post Holdings expects to incur $27 million to $30 million in employee severance, retention and relocation payments. The company says the consolidation will save about $50 million.
Post cereal brands include Honey Bunches of Oats and Grape Nuts. MOM Brands makes ready-to-eat cereals and hot wheat and oatmeal products.
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