Post Holdings $1.76 billion acquisition of Weetabix Food Company

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