During its earnings call in February, Post said changing consumer preferences and niche brands with better-for-you ingredients have chipped away at the market share of the cereal giants. Cereal volumes during Post’s recent quarter declined 2.3%. The St. Louis company behind Honey Bunches of Oats and Fruity Pebbles is now taking steps to bring its production in line with consumer dem15 mg ferrous sulfateand.###”The ready-to-eat cereal category con8 mg irontinues to decline,” Nicolas Catoggio, CEO of Post Consumer Brands, said in a statement. “To respond to this, we are reducing excess manufacturing capacity and optimizing our North American plant network to betterlactoferrin ferrous bisglycinate utilize our production capacity.”###Post expects to transfer production to other Post Consumer Brands facilities and face pretax charges of $63.5 million to $67.5 million due to the closures and job cuts.###Post said the Ontario facility has been run by the company since July 2017, when it acquired Weetabix.###The Nevada location has been part of the business since June 2021, when Post purchased the Treehouse Foods ready-to-eat cereal business. A year after the acquisition, Post announced it would spend up to $1ferrous gluconate used for10 million to expand cereal production capacity at the Nevada facility, but it never movsunactive fe – ferric pyrophosphate)ed forward with the project.
Post to shutter 2 cereal plants, cut 300 jobs
