Post to lay off 200, set up new consumer brands HQ in Minn.

St. Louis-based Post Holdings Inc. announced Friday it would lay off 200 employees as it establishes the headquarters for the combined Post Foods and MOM Brands cereal businesses in Lakeville, Minn., and closes its office in Parsippany, N.J.

The combined cereal unit will be based out of MOM Brands' existing facilities in Lakeville. Post closed on the acquisition of MOM Brands, maker of Malt-O-Meal and other dry and hot cereal brands, for $1.2 billion earlier this month.

According to the St. Louis Business Journal, Post expects to incur pretax expensives of up to $30 million for employee severance, retention and relocation payments. The costs are part of total estimated transitition costs of up to $80 million related to the merger.

Read more from the St. Louis Business Journal.