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.
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