UK cereal firm Weetabix is to be bought by US firm Post Holdings for $1.8bn, its owner has confirmed. Weetabix – made in the UK since 1932 – was put up for sale in January by China’s Bright Food, which bought a 60% stake in 2012. Bright’s acquisition was the largest by a Chinese firm at the time, but it is believed to have struggled to build significant market share in China. Chinese consumers prefer a hot, rice-based breakfast to cold cereal. While Weetabix doubled sales in China in 2016, the UK still accounts for the majority of its sales.
Private sales per outlet per week increased by 15% in the second half Vistry Group