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
Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.
The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.
Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.
