Weetabix moves into Chinese control
State-backed Chinese group Bright Food has finally made an investment in Europe, with the acquisition of a 60% stake in Weetabix. The deal has potential benefits for both sides - but can Bright Food really develop a significant presence for the brand in China, where the breakfast cereal market is in its early days.
Ambitious Bright Food, the Chinese state-backed food group, missed out on previous Western targets like United Biscuits and Yoplait but it has planted a flag in Europe with the acquisition of a majority stake in UK cereal manufacturer Weetabix. The deal could give Bright Food some Western expertise to apply to its domestic business but, as Dean Best reports, its faces a challenge in building the brand in China, where it remains early days for breakfast cereal.
China's Bright Food has acquired a majority stake in UK cereal maker Weetabix.
Bright Foods announced the acquisition of Australian manufacturer Manassen Foods this week. With speculation that it has shown interest in a number of other international players hints at the scale of its plans. What exactly are Bright Foods' ambitions? Dean Best reports.
- Challenges for General Mills with The Good Table
- What US companies might Nomad Foods buy?
- Greek crisis - The impact on shopper behaviour
- Competition intensifies among UK burger chains
- Why investors are concerned about water risk
- Mitsubishi buys stake in Olam International
- Unilever claims victory in Becel dispute
- KitKat to go sustainably sourced cocoa only
- Arla strikes JVs in Nigeria and Senegal
- Arla H1 profits down on milk price slump