Tue, 18 Apr 2017 | BUSINESS SALE
Weetabix, the largest producer of breakfast cereals in the UK, is to be bought by US firm Post Holdings for $1.8bn (£1.4bn) after failing to crack the Chinese market.
The firm’s owners, China’s Bright Food, put the company up for sale in January after appointing Goldman Sachs to find a buyer.
Bright Food took a 60 per cent stake in Weetabix in 2012 and tried to launch the cereal brand in China, but, despite doubling sales there in 2016, it has struggled to make a real success of it, with the UK remaining its largest market.
Established in 1932, Weetabix was family-owned until 2004 when it was bought by Lion Capital, the private equity firm.
Weetabix, which has a production centre in Northamptonshire, exports to more than 80 countries and employs around 1,800 people.
St Louis, Missouri-headquartered Post Holdings is one of the largest cereal makers in the US. Its brands include Great Grains and Golden Crisp.
Weetabix said its £1.4 billion valuation reflects the “international strength” of its brand.
“Today’s deal is great news for the team at Weetabix and all those who love our brands,” said Giles Turrell, CEO of Weetabix Food Company.
“The past five years have seen us increase our branded sales at home and overseas. Post is a leader within its markets and shares our commitment to providing great tasting nutritious products for the whole family. I’m confident they will help us open doors for continued expansion.”
Find food businesses for sale.
You can subscribe to the Business Sale Report here
The company’s offering includes installation and maintenance of satellite services, digital signage, TV distribution systems, Audio & Video solutions, Indoor and Outdoor LED, Wi-Fi installations, PC staging, and content creation. Other skills cover C...
An opportunity to acquire a reputable IT services company based along the M4 corridor with over 20 years of trading experience. The company has built and maintained a thriving, long-standing client base of businesses across a variety of sectors.
Founded over 40 years ago, this well-established manufacturing and supply company operates across the marine and leisure sectors, with a strong focus on serving the OEM market. The business specialises in high-performance water heating solutions tail...
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.