Weetabix sold to US firm after cereal fails to catch on at breakfast in China

China’s Bright Foods sells brand for $1.8bn to US owner of Shredded Wheat and Bran Flakes after too few Chinese choose Weetabix for brekkie

UK cereal brand Weetabix is to be snapped up by the US company Post Holdings in a deal worth about $1.8bn (£1.4bn).

The breakfast cereal favourite, made in Britain since 1932, was put up for sale in January by China’s Bright Foods which took a majority stake in 2012.

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from Mergers and acquisitions | The Guardian http://ift.tt/2pch8aI