The Weetabix Food Company, owners of one of Britain’s most popular cereal brands, today ‘welcomed the news’ that it is to be acquired by Post Holdings, Inc., a consumer packaged goods holding company. The deal values Weetabix at £1.4 bn.
The acquisition comes on the back of the growth in Weetabix’s UK market share for cereals and drinks, rising from 15.3% to 16.4%, in the past year ‘as consumers look for more nutritious, convenient breakfast choices’.
Post Holdings, Inc., headquartered in St. Louis, Missouri, USA, is a consumer packaged goods holding company with a broad product portfolio across food including ready-to-eat cereal, value-added egg products, protein shakes, bars and powders, peanut and other nut butters, and granola. Through its Post Consumer Brands business, Post Holdings is a leader in the North American ready-to-eat cereal category. The combination of Post and Weetabix will boost international growth opportunities on both sides.
Giles Turrell, CEO of Weetabix Food Company, said: “Today’s deal is great news for…