Post Holdings, Inc. has agreed to acquire privately owned MOM Brands Company for $1.15 billion. MOM Brands is a leader in the ready-to-eat (RTE) cereal segment, with more than 95 years of experience in providing RTE and hot cereal products. MOM Brands has a broad product portfolio, strategically targeting the value segment in branded RTE cereal, private label, and hot wheat and oatmeal. Post and MOM Brands together solidify Post’s position as the third largest provider of RTE cereal with a combined dollar share of approximately 18%, as measured by Nielsen for the 52 weeks ended December 27, 2014.

“For Post, this is the right move, at the right price, in the right category,” said Rob Vitale, Post’s president and CEO. “After a century of spirited rivalry between MOM Brands and Post, we now look forward to combining our strengths.”

Together, Post and MOM Brands will own a diverse portfolio of complementary RTE and hot cereal products. This transaction significantly increases Post’s presence in the growing bagged and hot cereal segments and solidifies Post and MOM Brands’ leadership in the value segment of the RTE cereal category.

The transaction is expected to be completed by the third calendar quarter of 2015, Post’s fiscal fourth quarter, subject to customary closing conditions including the expiration of waiting periods under U.S. antitrust laws. The transaction has been approved by MOM Brands’ shareholders.