China's Bright Food takes control of Weetabix

China's Bright Food Group Co. agreed to acquire a majority stake in U.K. cereal maker Weetabix, in its latest bid to enter the global market even as it feeds growing demand from China's middle class.

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.

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

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 [...]

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.

Private equity owner in talks with China’s Bright Food over sale that would value the British breakfast cereal maker at up to $1bn