Post to move cereal headquarters to Lakeville
Food giant Post Holdings said Friday it will combine its cereal operations into one unit that will be based in Lakeville, Minn.
The decision comes months after St. Louis-based Post paid nearly $1.2 billion to buy Minnesota's MOM Brands, best known for its Malt-O-Meal hot cereal.
Post on Friday said it would consolidate its Post Foods and MOM Brands and base the combined headquarters in Lakeville while closing an office in Parsippany, N.J., by next May.
This move affects some 200 employees across the businesses, said Post, one of the nation's largest cereal makers. The company said affected workers would be offered severance and transition help, but didn't offer any more details.
The combined business, called Post Consumer Brands, will be led by MOM Brands President Chris Neugent.
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