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Post Sees Wheetabix Acquisition As Vehicle To Expand Overseas

April 18, 2017: 12:00 AM EST
Breakfast cereal maker Post Holdings expects its acquisition of the iconic British breakfast food Wheetabix to expand its presence in the U.K. and other international markets, including China. The $1.76 billion purchase is the latest in a series of buys the company hopes will balance the slack growth environment prevailing in the packaged foods industry. Post is acquiring Weetabix from Bright Food Group Co., a Chinese conglomerate, and from minority shareholder Baring Private Equity Asia. Bright has owned 60 percent of Weetabix since 2012, when Wheetabix was valued at $1.5 billion (including debt). Baring has owned the other 40 percent since 2015. Post has agreed in principle to create a joint venture with Bright and Baring to manage Weetabix’s China operations, which have not been able to boost market share for the whole-grain biscuit cereal in the region over the last five years.  [Image Credit: © Wheetabix.com ]
Ben Dummett, "Post Buying Weetabix in $1.76 Billion Deal", The Wall Street Journal, April 18, 2017, © Dow Jones & Company, Inc.
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