Missouri-based Post Holdings has acquired U.K. cereal maker Weetabix Food Co. in a $1.77 billion deal. Weetabix is the second-largest cereal maker in the U.K., and its North American brands include the Barbara’s and Puffins cereals.
“We have long admired Weetabix as a leader in cereal and believe it will be a fantastic strategic fit within Post,” said Rob Vitale, president and CEO of Post Holdings. “Combining together two category leaders continues our strategy of strengthening our portfolio in stable categories and diversifying into new markets, bringing much-loved brands to significantly more customers globally. We are excited about the growth opportunities that this acquisition brings.”
Missouri’s robust food solutions industry includes more than 300 companies, with the capacity for many more, due to Missouri’s leading role in agricultural products including rice, soybeans, corn, sorghum, cattle, turkeys and hogs. Additionally, Missouri gives food producers rapid access to global markets, extensive distribution options, a friendly regulatory environment and a diverse customer base.
For more information on Missouri’s Food Solutions industry contact Steve Johnson, CEO of Missouri Partnership, at 314.725.2688 or via our contact form, with any questions you might have, and learn how Missouri Partnership can help with your business expansion and investment needs.