private equity firm Hicks Muse Tate & Furst, which later restructured and spun out its European buyout arm to form Lion Capital. Weetabix was sold by the George family for 642 million pounds in 2004 to U.S. As well as Kellogg, it competes with the Swiss based joint venture Cereal Partners between Nestle NESN.VX and General Mills GIS.N whose brands include Shreddies and Cheerios. It has around 7 percent of the British breakfast cereal market. Weetabix had sales of over 460 million pounds in 2011 and employs around 1,800 people. What Bright Food has done will definitely set a trend for other Chinese food companies the way we have seen in the automotive industry.” “In China, you have to set an example, and then others follow. “This is a trend,” said Ghislain de Mareuil, a Paris-based lawyer at De Pardieu Brocas Maffei. “Weetabix has an excellent product portfolio, including leading British cereal brand Weetabix and other category-leading brands.”Īnalysts expected more deals would now follow in Europe after its earlier failed attempts to buy Britain’s private-equity owned United Biscuits, the McVitie’s and Hula Hoops group, and a stake in French yoghurt firm Yoplait. “As China’s leading food group, we are pleased to become the controlling shareholder of Weetabix,” Bright Food chairman Wang Zhongnan said in a statement on Thursday. 1 breakfast cereal for under-5s and is made from wheat grown within 50 miles of its base in southern England. Its brands include Alpen muesli and Ready Break as well as Weetabix, which lays claim to being Britain’s No. This paper is great for report covers, file sorters, business flyers, signs, invitations, announcements, awards, certificates, scrapbooking, and all kinds of school projects. ![]() ![]() Weetabix is its second foreign purchase in a year and its first in Europe after other deals fell through.Įighty-year-old Weetabix is Britain's second biggest maker of breakfast cereals and cereal bars after Kellogg K.N. Georgia Pacific Image Plus Brights Paper - 8.5' x 11' - 500 Sheets GP-998641 14.95 Quantity: 500 sheets of 8.5' x 11' Georgia Pacific Image Plus Brights paper. The Shanghai-based group has been on the acquisition trail, seeking to raise its profile and cater for its rapidly growing home market. ![]() State-owned Bright Food has agreed to buy a 60 percent stake in a deal which puts a value of 1.2 billion pounds ($1.94 billion), including debt, on the private-equity owned company that coined the slogan “Have you had your Weetabix today?” Milk produced by Bright Food is displayed for sale on shelves at a supermarket in Shanghai September 27, 2010.
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