Sector News

US cereal producer ‘in running for Weetabix’

March 9, 2017
Food & Drink

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

comments closed

Related News

November 28, 2021

“Free from” trends take on myriad of meanings as health and environmental concerns come into sharper focus

Food & Drink

Free-from is becoming much more mainstream, moving beyond food allergens and intolerances. While it’s still vital to innovate products for lactose intolerance, gluten allergies and so forth, the umbrella term of free-from has taken on many different meanings.

November 28, 2021

Arla Foods Ingredients unveils milk fractionation tech for infant, sports and medical nutrition

Food & Drink

Arla Foods Ingredients (AFI) is targeting infant formula, sports nutrition and medical nutrition with its new patented milk fractionation technology that separates milk proteins from whey, bypassing the need to make cheese. The Denmark-based company says this move enables scientists, nutritionists and health professionals to create “next-generation” dairy products.

November 28, 2021

Oatly opens first Chinese production facility

Food & Drink

Located in Ma’anshan, Anhui province, the facility has the potential to produce an estimated 150 million litres of oat-based products annually at full capacity. The opening comes just a few months after Oatly – which claims to have established a new Chinese character for ‘plant-based milk’ – inaugurated its first Asian factory in Singapore.

Send this to a friend