Post Holdings $1.76 billion acquisition of Weetabix Food Company

18/4/2017
Private acquisition

$ 1.76 billion

Announced

18/4/2017


Overview:

  • Post Holdings is set to acquire Weetabix from Bright Food and Baring Private Equity for $1.76 billion.
  • Weetabix is a breakfast cereal producer and is one of the industry's top ten brands by market share according to Euromonitor.
  • Post Holdings is a St Louis based consumer goods group that owns brands including Grape-Nuts, Honey Bunches of Oats, Power Bar and Raisin Bran.
  • Bright Food acquired a 60% stake in the company in 2012 for £1.2 billion, it is thought to be selling following an unsuccessful attempt to market Weetabix as a breakfast staple in China.
  • According to the Financial Times, Associated British Foods, Cereal Partners, a Nestlé and General Mills joint venture and Barilla also expressed an interest in acquiring the brand.
  • Barclays, Rabobank, Nomura and Credit Suisse acted as financial advisers to Post Holdings.
  • Goldman Sachs advised Weetabix.

Sam Duke - Editor

Jurisdictions:

United States
China
United Kingdom

Deal type:

Private acquisition

Practice area:

M&A

Industry sector:

Food and beverage


Firms:

Party: Post Holdings (Acquirer)


Party: Post Holdings (Acquirer)


Party: Bright Food Group (Seller)

Party: Baring Private Equity (Seller)


Party: Weetabix (Management)

Lawyer: Anthony McGurk


Party: Bright Food Group (Seller)

Party: Baring Private Equity (Seller)

Lawyers: Peng Yu, Will Rosen