£1.4bn Weetabix sale completes

The $1.4bn deal to sell Northants-headquartered cereal brand Weetabix to US giant Post Holdings has been completed.

Rumours that Post Holdings, which makes Cocoa Pebbles and Golden Crisp, was leading the pack to buy Weetabix first emerged in March.

Weetabix was put up for sale by Chinese firm Bright Foods five years after it took a minority stake in the firm for £1.2bn.

Weetabix has had a tough time of late, and in its latest accounts the firm showed sales were down 2% to £346.4m, while profits dropped 13% to £94.3m.

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