Post Holdings, a consumer packaged goods holding company, has announced plans to consolidate its Post Foods and MOM Brands cereal businesses into one group, to be headquartered in Lakeville, Minn., at MOM Brands’ existing facilities. As a result, Post expects to close its office in Parsippany, N.J. The Parsippany office closure is expected to be completed by May 2016. This decision will impact approximately 200 employees across the businesses.
The combined business, called Post Consumer Brands, will be led by MOM Brands President Chris Neugent, who will report to Rich Koulouris, who joined Post Holdings in February to lead Post Foods Group, comprising branded center-of-the-store (Post Consumer Brands) as well as its private label retail businesses.
“Combining our businesses in Lakeville will create a powerful branded platform for both branded cereal and further acquisitions,” said Rob Vitale, Post Holdings’ president and CEO. “While I am delighted that Chris and his colleagues are joining Post, we are acutely aware of the contributions made by employees negatively impacted by this decision, and we are committed to helping them through this transition.”
Post Holdings announced in January 2015 that it had acquired MOM Brands for $1.15 billion. The acquisition was completed earlier this month.
