Front of a box of Weetabix
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Chinese firm Bright Food buys stake in Weetabix

China's Bright Food has bought a controlling stake in Weetabix, which owns the breakfast cereal brand as well as Alpen and Ready Brek.

Bright Food will take a 60% stake in Weetabix in a deal that values the company at £1.2bn.

The Northamptonshire-based firm was family-owned until 2004, when it was bought by Lion Capital.

Emma Simpson reports.

  • 03 May 2012