ST. LOUIS (AP) — Post Holdings says it will close its New Jersey operations and consolidate its cereal businesses, headquartering them in Minnesota in a move that will affect about 200 employees.

Post spokesman Brad Harper said Friday the majority of employees affected will be those in the Parsippany, New Jersey, office the company plans to shutter within a year. It’s not immediately clear how soon the consolidated Post Foods and newly acquired MOM Brands cereal businesses will relocate to Lakeville, Minnesota.

READ MORE: Judge Sets Final Ground Rules For Kyle Rittenhouse Trial Evidence

St. Louis-based Post Holdings expects to incur $27 million to $30 million in employee severance, retention and relocation payments. The company says the consolidation will save about $50 million.

READ MORE: Twin Cities Ranked Among Top 30 Best Places In United States For Halloween

Post cereal brands include Honey Bunches of Oats and Grape Nuts. MOM Brands makes ready-to-eat cereals and hot wheat and oatmeal products.

MORE NEWS: Bicyclist Dies After Being Hit By Vehicle In Rosemount

(© Copyright 2015 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)