Apr 18, 2017
Weetabix: Post truth
On Tuesday, Post announced it would pay £1.4bn in cash for Britain's number two ready-to-eat breakfast cereal Weetabix from its Chinese owner Bright Food and partner Baring Private Equity. The deal should go down well with Post shareholders. Once the core of conglomerate General Foods, Post has travelled through the alimentary canal of various mergers and acquisitions, including via Philip Morris. Post plans to enter a joint venture with Bright in China, and will certainly need all the help it can get. Weetabix will bring earnings diversification and growth for Post.
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