Dive Brief:
- Post Holdings, Inc. is morphing its Post and MOM Brands cereal businesses into a company called Post Consumer Brands.
- Other changes include headquartering the new cereal business in Lakeville, MN, and closing an office in Parsippany, NJ, which will cost about 200 jobs.
- Post estimates that the consolidation will save around $50 million.
Dive Insight:
Aside from this, Post is struggling as the bird flu rips through the company's egg supply, which has already forced the company to discontinue some products and adjust prices.
Post is still estimating the virus's financial effects on the company, though the virus has already affected about 25% of its Michael Foods egg supply. That percentage jumped from 14% when a second chicken flock owned by the company in Nebraska fell to the virus.