Mon, 23 Jan 2017 | BUSINESS SALE
An Italian pasta firm, a joint-venture between some of the world’s major cereal companies and PepsiCo are among the businesses reported to be lining up for a bite of the UK’s second biggest cereal brand, Weetabix.
Last year, Bright Food Group, Weetabix’s Chinese owner, hired Goldman Sachs to sound out interest from potential buyers for its 60 per cent stake in the firm. With the business valued at as much as £2 billion, analysts think a bidding war is on the cards.
Reports put Cereal Partners Worldwide, a JV between Nestle and General Mills, PepsiCo and Italian family business Barilla among the hungry and interested parties. You may be wondering where cereal giant Kellogg’s is in all this - it’s thought the firm is wary of bidding because of competition concerns.
Weetabix, established in 1932 and a family-owned business until only 2003, has a 13 per cent share in the UK cereal market and operates a number of other breakfast brands including Alpen and Ready Brek.
The state conglomerate Bright Food bought a majority stake in Weetabix in 2012 with the remaining shares held by Baring Private Equity Asia. However, while there has been growth in Asia the brand has struggled to properly cement its place on Chinese breakfast tables.
Weetabix turned over £346.4 million in the year to January 2016, compared to £352.1 million year earlier, with pre-tax profit dropping to £94.3 million.
Find food businesses for sale.
The company provides high-quality residential and nursing care for the elderly, combining best-practice healthcare procedures with tailored care plans. Throughout its time in operation, the company has developed an excellent reputation for providing...
FREEHOLD
The company has created an innovative and intuitive online learning platform, featuring a diverse range of subjects, such as academic physical education, which is mainly purchased by UK-based secondary schools and overseas British-curriculum schools....
The company provides specialist removal and disposal services of asbestos from a diverse range of buildings across North East England and the Scottish Borders. The business has worked closely with local authorities, NHS trusts, and clients across num...
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.