Mosaic Marketing via flickr
The Chinese acquired 60% in Weetabix in 2012. Within this transaction, the British manufacturer was estimated at £ 1.2 billion, including debts. However, Bright Food did not manage to significantly increase share of Weetabix in the Chinese market, which is why the British company has been put up for sale in January.
Commenting on the sale of the British asset, a spokesman for the Chinese company Pan Jianjun said: "This is part of our strategy of internationalization. The sale of assets allows us to expand. Moving forward, Bright will adhere to our policy of entering foreign markets". Several major food producers, including British Associated British Foods and Italian Barilla also placed their bids to purchase Weetabix.
The new owner of Weetabix, Post Holdings, is the third largest producer of ready-to-eat breakfasts and cereals in the US. Its portfolio contains such famous brands as Great Grains, Golden Crisp, Cocoa Pebbles. In turn, Weetabix is the largest manufacturer of ready-to-eat breakfasts in the UK, and its products are exported to 80 countries. The company own various brands such as Weetabix, Alpen, Oatibix, Weetos, Ready Brek, etc. The main factory is located in Kettering, also there are factories in continental Europe, eastern Africa and North America.
source: bbc.com
Commenting on the sale of the British asset, a spokesman for the Chinese company Pan Jianjun said: "This is part of our strategy of internationalization. The sale of assets allows us to expand. Moving forward, Bright will adhere to our policy of entering foreign markets". Several major food producers, including British Associated British Foods and Italian Barilla also placed their bids to purchase Weetabix.
The new owner of Weetabix, Post Holdings, is the third largest producer of ready-to-eat breakfasts and cereals in the US. Its portfolio contains such famous brands as Great Grains, Golden Crisp, Cocoa Pebbles. In turn, Weetabix is the largest manufacturer of ready-to-eat breakfasts in the UK, and its products are exported to 80 countries. The company own various brands such as Weetabix, Alpen, Oatibix, Weetos, Ready Brek, etc. The main factory is located in Kettering, also there are factories in continental Europe, eastern Africa and North America.
source: bbc.com