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.

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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.

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