China's Bright Food Swallows Weetabix

China’s second-largest food company agreed to buy a 60% stake in British cereal maker Weetabix from private equity firm Lion Capital LLP as part of a drive to increase overseas sales

The transaction values the British cereal maker at $1.9 billion and marks the biggest overseas foray yet for Bright Food, after several unsuccessful attempts at foreign acquisitions.

U.K. cereal maker acquired as part of overseas buying spree

Talk around UK breakfast tables this morning had to be centered around the news that a Chinese company is taking a big bite out of Weetabix. Bright Food, a government-owned [...]

HONG KONG (Reuters) - China's state-owned Bright Food Group has agreed to buy Australian branded food business Manassen Foods, giving it an enterprise value (EV) of over A$500 million ($516 million), a person with direct knowledge of the matter told Reuters on Sunday.

China's Bright Food company has bought a controlling stake in Weetabix in a landmark deal valuing the company at £1.2bn.

China's Bright Food buys a controlling stake in Weetabix, which owns the breakfast cereal brand as well as Alpen and Ready Brek.