Retail in Asia

In Sectors

China’s Bright Food to acquire stake in UK’s Weetabix

Bright Food Group Co. of China agreed to acquire a majority stake in UK-based cereal maker Weetabix in a deal that shifts an iconic British breakfast brand to a state-owned Chinese business and underscores the eagerness of Chinese companies to extend their influence worldwide.

Bright Food, maker of China’s White Rabbit candy, will buy 60 percent of Weetabix Food Co. from London-based buyout company Lion Capital, which will hold the remaining 40 percent, according to a Bright Food statement.

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(Source: The Wall Street Journal Online)