Weetabix sold in £1.4bn deal
Weetabix was acquired by US-based cereal maker Post Holdings in a deal worth about £1.4bn last month (April 18).
Bright Food Group agreed to sell Weetabix to Post Holdings. The acquisition came one month after it was reported Post Holdings was one of two bidders remaining for the UK cereal manufacturer.
Weetabix’s Chinese owner was said to have put the business up for sale after it failed to break into the Chinese market, where consumers tend to eat hot breakfasts.
The sale came after Bright Food Group invested £30M to expand its UK and international brands in January.