Bagged cereal is booming at Malt-O-Meal
If Toucan Sam heard what Malt-O-Meal is up to, it would throw him for a loop. It would make the Honey Nut Cheerios bee buzzing mad.
The Minneapolis-based company has quietly notched impressive gains in the otherwise lumbering cold cereal market by mastering the knockoff. Its Tootie Fruities bear a striking resemblance to Froot Loops. As for its Honey Nut Scooters — where have we seen that classic oat ring before?
Malt-O-Meal, recently rechristened MOM Brands, has built a lucrative cold cereal niche by delivering more product for the money than similar cereals made by industry titans General Mills and Kellogg.
“Once people try us, we have a very loyal group of consumers,” said Chris Neugent, MOM Brands’ chief executive.