China’s Bright Food buys controlling stake in Weetabix from Lion Capital

British breakfast cereal Weetabix is valued at £1.2 billion as Bright Food buys a 60% stake from London-based private equity firm Lion Capital.

China’s Bright Food buys controlling stake in Weetabix from Lion Capital

Bright Food, one of China’s biggest food groups, has agreed a deal to buy a 60% stake in Weetabix, maker of a popular British breakfast cereal, from Lion Capital.

The deal values Weetabix at 1.2 billion $1.94 billion, including equity and debt, which looks like a decent return for the London-based private equity firm, which still owns 40%. It paid 640 million for Weetabix in 2004 when it was known as Hicks Muse Tate...

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