Chinese firm acquires majority stake in Weetabix
By John Reynolds, marketingmagazine.co.uk, Thursday, 03 May 2012 04:50PM
China's state-owned Bright Food company has taken a controlling interest in Weetabix, as the breakfast cereal gears up for a push in the Far East.
Bright Food announced today (4 May) that it had acquired a 60% majority stake in the Weetabix Food Company.
The deal values the Weetabix business at £1.2bn.
As part of the deal, Bright Food has also acquired the Weetabix sister brands, Alpen and Ready Brek.
The Northamptonshire-based company was family-owned until 2004, when it was acquired by Lion Capital.
According to Nielsen, Weetabix is the top-selling cereal brand in the UK.
In 2011, it registered sales of £135.1m, up 10.2% on the year, ahead of Kellogg's Special K with sales of £119.4m.
Lyndon Lea, a partner at Lion Capital, said: "We are excited to continue our journey with the Weetabix brand, which has been an enormously successful investment, as we extend the business into China in partnership with Bright Food."Follow John Reynolds on Twitter @johnreynolds10
This article was first published on marketingmagazine.co.uk
- On-Air Creative / Creative Executive Discovery Communications Very Competitive with excellent benefits, London (West), London (Greater)
- Commercials Producer/Director Searchlight Recruitment An attractive salary is available to the successful candidate. , London (Central), London (Greater)
- Senior Marketing Manager Cutis Developments £50,000 - £60,000 per annum , Victoria, London (Greater)
- Sales Manager - Exhibitions - London tfconnect global recruitment £33,000 - £35,000 plus £3,750 car allowance + 25% bonus, London (Greater)
- PR Account Executive/Senior Account Executive Brand Recruitment £19000 - £25000 per annum, Aylesbury
- Five black Pencils awarded at D&AD 2015
- Managing director Paul Hayes to leave News UK after 15 years
- Campaign Viral Chart: True Detective trailer in number one spot
- Pimm's launches weather activated OOH campaign
- Vizeum on alert as 21st Century Fox review includes £150m European media
- Tango returns to advertising after two years with off-brand TV ad