Weetabix, the largest cereal company in the UK, is to be sold to Post Holdings, the third biggest player in the US cereal market, for $1.8 billion (£1.4 billion), according to reports in the BBC and the Independent. Chinese outfit Bright Food has been the majority owner of Weetabix since 2012, when the company bought a 60% stake in the cereal maker. However, the brand has reportedly unable to make …
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Bright Food
China’s second largest food company Bright Food is set to buy Spanish distributor Miquel Alimentacio after taking a 72% percent stake in the business. The deal is set to proceed subject to approval by the Chinese authorities and an EU anti-monopoly review. Under the terms of the deal, the remaining 28% of the Spanish firm will be held by the national sovereign fund China Investment Corp, which teamed up with …
Chinese state-owned conglomerate Bright Food has purchased a majority stake in Salov, an Italian olive oil producer, according to reports. The agreement, whicy comes 3 years after the Italian company was initially put up for sale, will see Bright Food take ownership of the brands Sagra and Berio. Sagra is one of the top ten brands in Italy while the Filippo Berio range of olive oils is a major player …
Bright Food Group Co., a Chinese dairy and consumer-products group, has agreed to buy a majority stake in Israel’s Tnuva Food Industries Ltd., Bloomberg reports. The group, backed by the Shanghai government, has plans to expand overseas and it is said the deal would give Bright Food a broader range of high-quality products to bring into China to tap local demand. According to company spokesman Pan Jianjun, Bright Food has …
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