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Baring says has bought 40 pct stake in Weetabix for undisclosed sum
September 1, 2015 / 5:21 AM / 2 years ago

Baring says has bought 40 pct stake in Weetabix for undisclosed sum

HONG KONG, Sept 1 (Reuters) - Baring Private Equity Asia said on Tuesday it acquired 40 percent of Weetabix Ltd, Britain’s largest branded manufacturer of cereals and cereal bars, for an undisclosed sum, looking to benefit from rising consumer demand in China for healthy food products.

Baring will partner in Weetabix with the company’s controlling shareholder, Chinese food giant Bright Food Group .

Apart from Weetabix, Bright Food also owns Australian dairy company Mundella Foods and it has also announced deals for Israeli food group Tnuva and Italian olive oil group Salov. (Reporting by Elzio Barreto; Editing by Clarence Fernandez)

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