Food Products | Kettering, UK | Corporate Acquisition
Post (NYSE: POST) has agreed to pick up cereal maker Weetabix from China’s Bright Food and Baring Private Equity Asia on a debt- and cash-free basis for £1.4 billion. Post expects the target to contribute approximately £120 million in EBIDTA per year. Bright Food and Baring took a 60% stake in Weetabix in 2012, giving the company a value of £1.2 billion. Post's shares closed down 4% Tuesday.