This study investigated several food safety criteria in 38 different commercial products of processed cereal‐based foods (PCF) from the German market. Microbiological assessment, followed by 16S RNA gene sequencing of suspect colonies, included aerobic mesophilic bacteria, moulds, Enterobacteriaceae, Cronobacter spp., and presumptive Bacillus cereus. Mycotoxin analyses were performed by enzyme immunoassays for deoxynivalenol (DON), zearalenone (ZEN), T‐2/HT‐2 toxins (T‐2/HT‐2; oat containing products only), ergot alkaloids (EA), and alternariol (AOH). No violative result above existing European Union regulations or international guidelines was obtained. Most samples had very low aerobic mesophilic cell counts (<2.0 × 101 CFU/g), the maximum was 9.6 × 102 CFU/g. A few samples contained low numbers of opportunistic pathogens, most notably Cronobacter sakazakii, Acinetobacter spp., Pantoea spp., and enterotoxigenic Bacillus wiedmannii. Levels of mycotoxin contamination were very low, well below European Union maximum limits. DON was found in 10 samples, at levels of 9–35 µg/kg. T‐2/HT‐2 were found in all 15 oat‐based products (1–8 µg/kg). All samples were negative for ZEN and EA. A high number (n = 25) of samples yielded weakly positive results for the nonregulated AOH (0.4–2 µg/kg), but just three samples exceeded a level of 1 µg/kg. No relationship between cereal composition and analytical findings for microbiological parameters and mycotoxins could be found. As long as PCF meals are freshly prepared and consumed immediately after preparation, the risk from sporadically occurring opportunistic bacteria appears to be minimal.