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Post Expands Cereal Market in $1 Billion MOM Merger

Post Expands Cereal Market in $1 Billion MOM Merger


ST. LOUIS, MO

Post Holdings, Inc. has agreed to acquire MOM Brands for $1.15 billion.

The union of Post and MOM Brands solidifies Post Brand as now the third largest provider of ready-to-eat cereal with a combined dollar share of approximately 18% of the market, according to a press release.

"I have admired MOM Brands for nearly 50 years. I am delighted that Post and MOM Brands will finally be together,” says Bill Stiritz, Post Brand’s Executive Chairman. “It is one of the best strategic and financial fits of any transaction in which I have been involved."

The new Post-MOM consolidation will be led by Richard R. Koulouris, who Post announced today will be joining the company on February 9th. Koulouris brings to Post 35 years trade experience, including considerable time as a CPG Senior Executive. Previously, Mr. Koulouris has served as President of several business units during his various assignments and will report to Rob Vitale, Post's President and CEO.

Chris Neugent, current Chairman and CEO of MOM Brands, will now lead the MOM Brands business as President and will be reporting to Koulouris. Post and MOM Brands plan to appoint a team made up of members of both companies to prepare for and to oversee the transition.

"I am pleased to welcome Rich, Chris, and the entire MOM Brands team to Post," added Rob Vitale.

Jim Holbrook, current President and CEO of Post's Consumer Brands Group, and Tony Shurman, current General Manager of Post Foods, will continue in their respective roles.

Post Foods

MOM Brands