UK: Weetabix coy on "bid" for Dorset Cereals
Weetabix has refused to comment on speculation it is one of the firms looking to acquire Dorset Cereals
Weetabix has refused to "confirm or deny" reports it is one of the suitors looking to buy UK muesli manufacturer Dorset Cereals.
Last week there were reports Weetabix is one of a list of three manufacturers that have made a bid for the UK cereal firm.
Sky News reported Weetabix, Kellogg and Associated British Foods are among the bidders for Dorset Cereals, which is part of Wellness Foods, a health food group backed by horseracing tycoons JP McManus and John Magnier. Private-equity firms are also said to be interested, the broadcaster reported.
Last month, The Daily Telegraph reported Wellness Foods was looking to sell the business for GBP40m-50m (US$66.3-82.8m).
In an email to just-food today (7 April) a spokesperson for Weetabix said: "We're aware of the market speculation and will not be offering a comment to confirm or deny."
Today Weetabix announced plans to cut staff pay and hours in the UK, a reaction believed to be prompted by increasing pressure from supermarket own brands and discount food retailers.
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