Fri, 04 May 2012 | BUSINESS SALE
A Chinese firm has agreed to buy a 60 per cent stake in Weetabix, the UK's second biggest maker of breakfast cereals.
Shanghai-based Bright Food purchased the majority stake in the firm in a deal which puts a value of £1.2 billion (including debt) on the firm following lengthy discussions regarding the buy-out.
It marks the latest in a trend for acquisitions made by the Chinese firm as Bright Food is looking to raise its profile by building up a collection of foreign brands. Weetabix should allow it to do this as it owns a number of recognisable names, including Alpen muesli, Ready Brek and Weetabix itself.
Wang Zhongnan, chairman of Bright Food, said in a statement regarding the purchase: “As China's leading food group, we are pleased to become the controlling shareholder of Weetabix.
"Weetabix has an excellent product portfolio, including leading British cereal brand Weetabix and other category-leading brands."
Weetabix management and private equity owners Lion Capital will keep a 40 per cent stake in the company.
The firm has been established for around 80 years and was bought by a private equity firm back in 2004. In its native UK market, it is second to Kellogg in terms of market share.
A distributor of oils and ancillary cleaning products to a wide client base, and is not dependent on any one client or market sector. These Items are an essential component to ensure smooth operation of equipment and reduce wear & tear and reduce ope...
The company is an equestrian business comprising a popular retail store, accredited livery and riding facilities and a competitive events operation, operating from an attractive rural location in the East Midlands.
LEASEHOLD
The group provides pre-owned vehicle sales, warranty solutions, MOT inspections, part exchange, vehicle valuation, and vehicle sourcing. Additionally, the group offers car finance solutions, making it easier for customers to purchase vehicles through...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.