UK cereal manufacturer Weetabix has reportedly started talks with bankers about a potential GBP900m (US$1.4bn) debt refinancing.

The Financial Times today (8 September) quoted sources that claim the company, which also produces Ready Brek and Alpen brands, is refinancing some or all of its debt.

However, when contacted by just-food, Weetabix and its owner, private-equity firm Lion Capital, declined to comment.

Lion Capital acquired Weetabix in 2004 and has been linked to a possible US$2bn bid to buy US cereal manufacturer Post Foods.

Last week, Weetabix appointed a new CEO, Giles Turrell, who will leave paper goods company Kimberly-Clark.