Lion to make 5x money on Weetabix sale to Bright Food
Consumer investor Lion Capital has sold 60% of UK-based cereal company Weetabix to China’s Bright Food Group, in a deal that values the company at GPB1.2 billion ($1.9 billion), including debt. The move comes weeks after the buyer denied reports that it was in talks to purchase the business.
Once the remaining 40% of shares that continue to be held by Lion and company management have been sold to Bright Food, expected in two to three years, Lion should make nearly 5x its money, according to...
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