We're the largest family-owned cereal company in the country. We take a long-term view, managing for the next generation, not the next quarterly earnings report. Once a one-product company, we're now a house of brands. Eleven in fact, with more in development.
Here's a riddle. Find new ways to reduce costs but don't sacrifice the high quality of the cereal. That's what we do at MOM Brands® every day. It's not about cutting corners, it's about being as smart and creative as we can be. It's about innovation.
Our strategy for growth is simple. Produce great quality cereal, sell it at a really good price every day and make sure our retail partners are profitable. It's a formula for success that's never been more relevant than it is today.
In 1919, John Campbell took $900 of poker winnings and started a company. A few years later, he bought a mill on the Cannon River in Minnesota. We still produce Malt-O-Meal® Hot Wheat cereal there.
We've been innovating since the beginning when John Campbell added malt flavor to farina cereal and named his creation "Malt-O-Meal". Once a one-product company, today we offer eleven brands of hot and cold cereal. In 2010, we introduced over 60 new items.
"Our vision is focused on serving families. Today, unemployment is at 9.1%, and over 50 million Americans are struggling with hunger issues. The latest statistics show that over 17 million children in the United States are living in households which are "food insecure." ...There has never been a time in recent history that Americans needed low cost options for food more than they do right now. Our position in the cereal category has never been more relevant than it is now." Chris Neugent, Chairman and CEO.