Post cereals, a company whose heritage dates to the 1890s, is marking a new milestone by trading on the New York Stock Exchange.
Post, which was wholly owned by St. Louis-based Ralcorp Holdings, was spun-off as a separate company, effective Friday. Ralcorp shareholders received one share of Post Holdings stock for every two shares of Ralcorp stock.
Ralcorp, which acquired the Post cereals business from Kraft Foods in 2008 for $2.6 billion, announced its plans last July to spin-off Post to concentrate on its private label, or store brand pasta, cereal and bakery goods.
Post's brands include Honey Bunches of Oats, Grape Nuts, Raisin Bran and Pebbles cereals. The newly spun off company is headquartered in Brentwood.
Post, which is trading on the new ticker, POST, closed Monday at $26.89 a share, down slightly from its opening price of $27.13 a share.
Read more from Lisa Brown, who covers banking, consumer products and legal affairs for the Post-Dispatch. Follow her on Twitter @lisabrownstl and the Business section @postdispatchbiz.
