Post Holdings, Inc. Moves Forward with Modesto Plant Closing

Thu Apr 4, 2013 5:25pm EDT

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ST. LOUIS,  April 4, 2013  /PRNewswire/ -- Post Holdings, Inc. (NYSE: POST), a
leading manufacturer, marketer and distributor of branded ready to eat cereals,
today announced that after discussions with the union representing hourly
employees at the  Modesto, California  plant, the Company's management has made
a decision to close the  Modesto  plant.  The  Modesto  plant has approximately
140 employees. The transfer of production capabilities and closure of the plant
is expected to be completed by September 2014.   


Upon completion of the transfer and start-up of production at other facilities,
which is estimated to require capital expenditures of approximately  $29.8
million, Post expects to achieve net pretax annual cash manufacturing cost
savings of approximately  $14.0 million.  These actions are intended to allow
for reinvestment in Post's business and to better position Post to compete in
today's competitive landscape.

Forward-Looking Statements  
Certain matters discussed in this press release are forward-looking statements,
including statements which use the word "expects" or "estimates." Such
statements involve certain risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking statements.
Potential risks and uncertainties include the impact of our separation from
Ralcorp and risks relating to our ability to operate effectively as a
stand-alone, publicly traded company;  our high leverage and substantial debt,
including covenants that will restrict the operation of our business; the impact
of the restatement of Post's financial statements; significant increases in the
costs of certain commodities, packaging or energy used to manufacture our
products; changes in our cost structure, management, financing and business
operations following the separation; labor strikes or work stoppages by our
employees; our ability to achieve benefits from our separation; our obligations
to indemnify Ralcorp if the separation is taxable under certain circumstances;
restrictions on our taking certain actions due to tax rules and covenants with
Ralcorp; our ability to continue to compete in our product market against
manufacturers of both branded and private label cereal products and our ability
to retain our market position; our ability to maintain competitive pricing,
successfully introduce new products or successfully manage our costs; our
ability to successfully implement business strategies to reduce costs;
impairment in the carrying value of goodwill or other intangibles; the loss or
bankruptcy of a significant customer; allegations that our products cause injury
or illness, product recalls and product liability claims and other litigation;
our ability to anticipate changes in consumer preferences and trends; changes in
consumer demand for ready-to-eat cereals; our ability to service our outstanding
debt or obtain additional financing; disruptions in the U.S. and global capital
and credit markets; legal and regulatory factors including changes in food
safety, advertising and labeling laws and regulations; disruptions or
inefficiencies in supply chain; fluctuations in foreign currency exchange rates;
consolidations among the retail grocery and foodservice industries; change in
estimates in critical accounting judgments and changes to or new laws and
regulations affecting our business; losses or increased funding and expenses
related to our qualified pension plan; loss of key employees; changes in weather
conditions, natural disasters and other events beyond our control; business
disruptions caused by information technology failures; and other risks described
in the Company's filings with the Securities and Exchange Commission. These
forward-looking statements represent the Company's judgment as of the date of
this press release. The Company disclaims, however, any intent or obligation to
update these forward-looking statements.

About Post Holdings, Inc.
Post Holdings, Inc. is the parent company of Post Foods, LLC.  Post has enriched
the lives of consumers, bringing quality foods to the breakfast table since the
company's founding in 1895. Post's products are generally sold to supermarket
chains, wholesalers, supercenters, club stores, mass merchandisers,
distributors, convenience stores and the foodservice channel in  North America.
Those products are manufactured at four facilities located in  Battle Creek,
Michigan;  Jonesboro, Arkansas;  Modesto, California; and  Niagara Falls,
Ontario. Post's portfolio of brands includes diverse offerings to meet the taste
and nutritional needs of all families, including such favorites as Honey Bunches
of Oats, Pebbles, Great Grains, Post Shredded Wheat, Post Raisin Bran,
Grape-Nuts, and Honeycomb.  With the acquisition of Attune Foods, Post's
portfolio of brands now also includes Attune, Uncle Sam and Erewhon.  Post is
dedicated to health and wellness, offering consumers a variety of cereal choices
to meet their nutritional needs from whole grain and fiber to lower sugar
offerings. For more information, visit   

SOURCE  Post Holdings, Inc.

Pia Koster, Director, Investor Relations, (314) 644-7678 (POST)

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