Post Holdings Announces Plan to Close Clinton, MA Facility
February 27 2018 - 8:00AM
Post Holdings, Inc. (NYSE:POST), a consumer packaged goods holding
company, today announced its plan to close its cereal manufacturing
facility in Clinton, Massachusetts.
The planned closure of the facility reflects Post’s continuous
improvement initiative to optimize its cereal production network
and manage costs in the ready-to-eat cereal category.
The facility, which was acquired with the acquisition of
Weetabix on July 3, 2017, employs approximately 180 employees and
is expected to close by August 2019. Post will engage in
discussions with the union representing the hourly employees at the
Clinton facility to determine the impact to terms and conditions of
employment for the unionized workers. Affected employees have been
notified.
Forward Looking Statements
Forward-looking statements, within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, are made throughout this press release. These
forward-looking statements are sometimes identified from the use of
forward-looking words such as “believe,” “should,” “could,”
“potential,” “continue,” “expect,” “project,” “estimate,”
“predict,” “anticipate,” “aim,” “intend,” “plan,” “forecast,”
“target,” “is likely,” “will,” “can,” “may,” or “would” or the
negative of these terms or similar expressions elsewhere in this
release. All forward-looking statements are subject to a number of
important factors, risks, uncertainties and assumptions that could
cause actual results to differ materially from those described in
any forward-looking statements. These factors and risks include,
but are not limited to, unanticipated developments that impact the
expected timing and costs of the plant closure and other financial,
operational and legal risks and uncertainties detailed from time to
time in Post Holdings, Inc.’s cautionary statements contained in
its filings with the Securities and Exchange Commission. These
forward-looking statements represent Post Holdings, Inc.’s judgment
as of the date of this press release. Post Holdings, Inc.
disclaims, however, any intent or obligation to update these
forward-looking statements.
About Post Holdings, Inc.
Post Holdings, Inc., headquartered in St. Louis, Missouri, is a
consumer packaged goods holding company operating in the
center-of-the-store, foodservice, food ingredient, refrigerated,
active nutrition and private label food categories. Through its
Post Consumer Brands business, Post is a leader in the North
American ready-to-eat cereal category offering a broad portfolio
including recognized brands such as Honey Bunches of Oats®,
Pebbles™, Great Grains® and Malt-O-Meal® bag cereal. Post also is a
leader in the United Kingdom ready-to-eat cereal category with the
iconic Weetabix® brand. Through Michael Foods, Post supplies
innovative, value-added egg and refrigerated potato products to the
foodservice and food ingredient channels. Through its refrigerated
retail business, Post is a leader in the refrigerated side dish
category offering potato, egg, sausage and cheese products through
the Bob Evans®, All Whites®, Better’n Eggs®, Simply Potatoes® and
Crystal Farms® brands. Post’s Active Nutrition platform aids
consumers in adopting healthier lifestyles through brands such as
Premier Protein®, PowerBar® and Dymatize®. Post’s Private Brands
business manufactures private label peanut butter and other nut
butter, dried fruit and nut, pasta and granola products. For more
information, visit www.postholdings.com.
Contacts:
Media RelationsLisa Hanlylisa.hanly@postholdings.com(314)
665-3180
Investor RelationsBrad Harperbrad.harper@postholdings.com(314)
644-7626
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