MOM Brands (formerly Malt-O-Meal), the maker of Better Oats, Three Sisters, Frosted Flakes, and Spooners cereals said that the $140m expansion adds 350,000 square feet of production space to the 33-acre facility, and brings the total number of people employed there to 200.
MOM Brands chairman and CEO Chris Neugent claims that the company has continued to grow in a relatively flat cereals market, allowing it to expand the facility. According to data from market research organization Nielsen, MOM Brands has tripled its market share over the past several years, and boosted its sales volume by 5.8% in 2011.
Neugent said: “In this tough economy, we are proud that our success and long-term growth enables us to create more good jobs in Asheboro.”
Apart from the addition of production space, the project also adds more production lines and an 80,000 square foot warehouse, which was completed last year.
President of the Randolph County Economic Development Corporation Bonnie Renfro welcomed the expansion, saying that the company has made a significant impact to the Asheboro and Randolph County community.
“We are delighted to see the new jobs as a result of this expansion,” Renfro said.
New positions will range from line managers to maintenance technicians, the company said.