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POST is closing two cereal plants by 2025-end to reduce production capacity amid declining cereal demand.
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Post Holdings (POST) said Wednesday that it is closing two of its plants, citing a decline in demand for “ready-to-eat” cereals.
Post Holdings plans to close cereal manufacturing plants in Ontario and Nevada, putting about 300 employees out of work, as demand in the ready-to-eat cereal category continues to decline.
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Post Holdings has shown slow organic growth, but maintains stable earnings through effective cost control and pricing, further boosted by a surge in egg prices. Post was speculated to be in talks with Lamb Weston over a potential merger, but speculation has since died down with Post instead acquiring Potato Products of Idaho. Post's stable cash flow and strong historical M&A track record are still attractive. I estimate a fair value of $146 for POST stock, suggesting 28% upside even without further M&A.
POST's acquisition of PPI strengthens its product portfolio, market presence and supply-chain efficiency in the growing potato industry.
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