ST. LOUIS, June 15, 2022 (GLOBE NEWSWIRE) -- Post Holdings, Inc. (NYSE:POST), a consumer packaged goods holding company, today announced plans for its Post Consumer Brands business to invest up to $110 million to expand its cereal production capacity at its Sparks, Nevada facility.
The proposed expansion will provide Post Consumer Brands with additional production volume, addressing capacity constraints to better meet consumer demand, as well as reduce transportation costs to serve West Coast customers more efficiently. Project planning and implementation will begin immediately and once the expansion is completed, it will create approximately 30-40 new jobs.
“Adding capacity in Sparks will help us balance our network geographically and provide us with greater flexibility to best serve our customers,” said Nicolas Catoggio, President and CEO, Post Consumer Brands. “This expansion also provides us the opportunity to work in close partnership with the Sparks community, including local economic development authorities, to create new job growth.”
The expansion is projected to be completed in 2025, with initial new capacity available late in 2024.
Forward-Looking Statements
Certain matters discussed in this press release are forward-looking statements. These forward-looking statements are made based on known events and circumstances at the time of release, and as such, are subject to uncertainty and changes in circumstances. These forward-looking statements include statements regarding the expansion of the Sparks facility, such as the amount of Post’s investment, the benefits of the expansion, the number of new jobs created by the expansion and the timing of the expansion. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein, including risks and uncertainties described in Post’s filings with the Securities and Exchange Commission. These forward-looking statements represent Post’s judgment as of the date of this release. Post disclaims, however, any intent or obligation to update these forward-looking statements. All forward-looking statements in this press release are qualified in their entirety by this cautionary statement.
About Post Consumer Brands
Post Consumer Brands is a business unit of Post Holdings Inc., formed from the combination of Post Foods and MOM Brands in May 2015. Headquartered in Lakeville, Minnesota, Post Consumer Brands today is the third-largest cereal company in the United States, with a broad portfolio of products spanning all segments of the category – from iconic household name brands and value ready-to-eat cereals to natural/organic and hot cereal varieties. As a company committed to high standards of quality and to our values, we are driven by one idea: To make better happen every day. For more information about our brands, visit www.postconsumerbrands.com.
About Post Holdings, Inc.
Post Holdings, Inc., headquartered in St. Louis, Missouri, is a consumer packaged goods holding company with businesses operating in the center-of-the-store, refrigerated, foodservice and food ingredient categories. Its businesses include Post Consumer Brands, Weetabix, Michael Foods and Bob Evans Farms. Post Consumer Brands is a leader in the North American ready-to-eat cereal category and also markets Peter Pan® nut butters. Weetabix is home to the United Kingdom’s number one selling ready-to-eat cereal brand, Weetabix®. Michael Foods and Bob Evans Farms are leaders in refrigerated foods, delivering innovative, value-added egg and refrigerated potato side dish products to the foodservice and retail channels. Post participates in the global convenient nutrition category through its minority ownership of BellRing Brands, Inc., a publicly-traded holding company offering ready-to-drink shake and powder protein products. Post participates in the private brand food category through its investment with third parties in 8th Avenue Food & Provisions, Inc., a leading, private brand centric, consumer products holding company. For more information, visit www.postholdings.com.
Contact:
Post Holdings Investor Relations
Jennifer Meyer
jennifer.meyer@postholdings.com
(314) 644-7665
Post Holdings Media Relations
Lisa Hanly
lisa.hanly@postholdings.com
(314) 665-3180
Post Consumer Brands Media Relations
Katie Seifert
keseifert@postholdings.com
(952) 322-8275
