Mom Brands Completing $140 Million Expansion In Asheboro, North Carolina, Creating 50 Jobs
The 33-acre Asheboro facility at 2525 Bank Street currently employs 200 people and is one of the largest employers in Randolph County. Its expansion added more than 350,000 square feet of production space, doubling the size of the facility. The project also adds more production lines, and an on-site, 80,000-square-foot warehouse. With this expansion, the company will be adding positions ranging from line managers to maintenance technicians.
"MOM Brands has been an outstanding addition to Asheboro and Randolph County's economy. In a few short years, it has made a significant economic impact to our community," said Bonnie Renfro, Randolph County Economic Development Corporation president said "We are delighted to see the new jobs as a result of this expansion. It's a great career opportunity for our people at a time when unemployment continues to be too high and our residents need jobs more than ever."
Chris Neugent, MOM Brands chairman and CEO, said that "MOM is the only major cereal company making strides in a large, but flat, category," and that is a credit to the growth of the Asheboro facility. Additionally, Neugent said there is increased demand for the Malt-O-Meal product line, which includes the company's best-selling Frosted Mini Spooners and Frosted Flakes, as well as the popularity of the Better Oats instant oatmeal line.
"In this tough economy, we are proud that our success and long-term growth enables us to create more good jobs in Asheboro", said Neugent. "And, just as important is our commitment to producing the highest quality cereals while saving families money every day. The mission of MOM Brands is to continue to find better ways to give families across America a better breakfast at a better price."
MOM Brands, formerly the Malt-O-Meal Company, said it is the largest family owned cereal company in the U.S. The 93-year-old company manufactures many varieties of oatmeal, family favorite ready-to-eat and natural cereals as well as its original, farina-based hot cereal. Mom Brands officials said one in 10 servings of breakfast cereal eaten every day is one of its brands. While information on incentives provided the firm was not immediately available, North Carolina offers funding to foster business expansion and hiring. According to public records, in 2009 then Malt-O-Meal received nearly $4 million in financial incentives from Randolph County and an additional $1.09 million from the state of North Carolina to build its facility in the state. It also received a grant from the North Carolina Department of Transportation to help build a railroad spur to its production facility.
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