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Chinese firm snaps up majority stake in Weetabix Friday, 4th May 2012
The majority stake in Weetabix is to be sold to Chinese firm Bright Food in a deal worth £720 million.
Zongnan Wang, Bright Foods’ chairman, said in a statement that he was “excited” to be bringing the breakfast cereal to tables across the Far East, where western eating habits are catching on as wealthy citizens turn their backs on traditional rice and bread.
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Posted in Deals and Takeovers, Food Tagged Weetabix, Food, Deals & Rumours, Bright Food, Zongnan Wang, my, retail, media, news
