A US cereal producer is understood to be in the running for a £1.5bn takeover of Northamptonshire-headquartered Weetabix.
According to Sky News, New York Stock Exchange-listed Post Holdings is one of two bidders hoping to acquire the business in a deal that could be closed before the end of March.
Post is headquartered in St Louis, Missouri, and makes the Fruity Pebbles and Golden Crisp brands of cereal.
Royal Warrant-holder Weetabix is owned by Chinese group Bright Food, which initially took a 60 per cent stake in the business alongside Lion Capital in 2012.
It completed its purchase of the remaining 40 per cent shareholding from Lion Capital in June 2015 before passing on a stake to Baring Private Equity Asia. At the time, it was reported that the deal was worth £1.2bn.
In December, reports surfaced that Bright Food had hired Goldman Sachs to find a buyer for Weetabix, with speculation that it could struggle to recoup its original investment.
By Storm Rannard
Source: Insider Media
Temperature-controlled storage and logistic solution provider, Emergent Cold LatAm, has opened ‘Chile’s largest’ frozen food warehouse. Located in Talcahuano, a region renowned for its seafood and fruit production and exports, the warehouse represents a strategic enhancement of the local cold chain infrastructure.
Never Never gin will be sold through Asahi’s alcohol division, Carlton & United Breweries (CUB). According to the company, the acquisition – which won’t impact daily operations – will enable Never Never’s premium gin to reach a wider customer base while enhancing support and product offerings for existing customers.
Coca-Cola Europacific Partners (CCEP) announced today the forthcoming departure of Nik Jhangiani, senior vice president and chief financial officer, with plans underway to identify his successor. Jhangiani will be stepping down to assume the role of CFO at Diageo later this year.
