The state-owned Chinese firm Bright Food has announced that it has bought a 60% stake in cereal-making Weetabix Food Group.
Bright Foods has acquired control of the group from private equity group Lion Capital, which kept a 40% share in Weetabix Food Group in a deal that values the firm at £1.2bn including debt. The Chinese firm has ambitious plans to increase sales of Weetabix and group’s other brands Alpen and Ready Brek, by expanding…
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