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
This leading recruitment agency boasts over 30 years of expertise in mechanical and electrical engineering, offering a robust infrastructure and an extensive candidates' database.
Explore a dynamic business opportunity with a relocatable, eco-friendly contract packing and reworking specialist located in Norfolk.
A highly respected family business specialising in waste recycling is now available in West Yorkshire, offering a unique opportunity in a thriving industry.
02
|
Jul
|
Acquisitive professional services firm secures new private equity owner | BUSINESS SALE
A professional services firm that has completed 16 acquisiti...
02
|
Jul
|
£53m-turnover vehicle rental firm falls into administration | ADMINISTRATION
A Stoke-on-Trent-based vehicle rental and contract hire firm...
02
|
Jul
|
Education services provider Empowering Learning Group sold by Graphite Capital | BUSINESS SALE
UK investor exits market-leading, high-growth education serv...
02
|
Jul
|
Acquisitive professional services firm secures new private equity owner | BUSINESS SALE
A professional services firm that has completed 16 acquisiti...
17
|
Mar
|
Powerhouse legal tech firm ShareDo snapped up by Clio | BUSINESS SALE
“Powerhouse” legal case management platform Shar...
07
|
Jan
|
Aston Lark Acquires Corporate Healthcare Specialist | BUSINESS SALE
Insurance broker Aston Lark has acquired Leicestershire-base...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.