Weetabix set to be acquired by US giant Post Holdings in £1.4bn deal

UK cereal company Weetabix is reportedly set to be acquired by American giant Post Holdings in a £1.4bn deal.

China’s Bright Food Group Co Ltd, which bought a 60% stake in the UK breakfast brand in 2012 for £1.2bn, brought Weetabix to the market in January.

Associated British Foods, Cereal Partners Worldwide and Italy’s Barilla also showed interest in purchasing Weetabix.

The deal between Post Holdings and Bright Food Group is expected to be confirmed on Tuesday morning before the US markets open, New York time.

Post Holdings, which is headquartered in Minnesota, produces cereal brands such as Honey Bunches of Oats, Pebbles and Post Shredded Wheat.

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