MOM Brands: agrees to sell company to Post Holdings

Minneapolis / MN. (mb) MOM Brands Company announced that it has entered into a definitive agreement for the sale of the company to Post Holdings Inc. in a transaction valued at approximately 1.15 billion USD. The transaction, which is subject to customary closing conditions, including regulatory approval, is expected to close by the third quarter of 2015. MOM Brands is a leader in the value segment of branded ready-to-eat and natural cereals, hot wheat and oatmeal. Upon closing, MOM Brands Chairman and Chief Executive Officer Chris Neugent will continue to lead the MOM Brands business as President, reporting to Richard K. Koulouris, who is joining Post Holdings February 09 to lead the combined Post Foods and MOM Brands cereal business. «By joining forces with Post, we will have more resources available to innovate, extend our brands and expand distribution», Neugent said. «We believe that this new, combined enterprise will be uniquely positioned to help our customers find new solutions in the highly competitive cereal category. In addition, it will give us the opportunity to pursue our mission of saving families money on an even greater scale». Founded in 1919, MOM Brands today is the fourth largest cereal company in the United States.