Post pays £1.4 billion for Weetabix
Thursday, April 20, 2017
(Ingredients Network) – Post Holdings is to acquire the UK’s Weetabix from Shanghai based state owned enterprise Bright Food Group and an investment fund advised by Baring Private Equity Asia. Post will acquire Weetabix for £1.4 billion.
Weetabix primarily produces ready-to-eat cereal products spanning branded and private label. Founded in 1932, Weetabix holds the number two overall position in the UK RTE cereal category. Its portfolio includes the Weetabix brand, which holds the number one brand position in the UK RTE cereal category, as well as Alpen (the number one muesli brand in the UK), Barbara's, Weetos and Ready Brek.
In North America, Weetabix operates a natural and organic RTE cereal and snacking platform in both branded and private label, led by the Barbara's brand and the Puffins sub-brand and serving leading natural and specialty channel and conventional retailers.
Additionally, Weetabix has an established and extensive international presence, with operations in Africa through two joint ventures and a distribution export business to over 90 countries. Post has agreed in principle to establish a joint venture with Bright Food Group and an investment fund advised by Baring Private Equity Asia to manage the Weetabix China operations.
