Bright Food Takes $2B Bite Of PE-Owned Cereal Co.

Law360, New York (May 3, 2012, 2:03 PM EDT) -- After denying rumors last week that it was eyeing Weetabix Ltd., China's Bright Food Group Co. Ltd. has plunked down £1.2 billion ($1.9 billion) for a 60 percent stake in the popular cereal brand, British private equity owner Lion Capital LLP said Thursday.

The purchase, which marks Shanghai-based Bright Food's entry into the British market, represents the largest overseas acquisition by a Chinese company in the food and beverage sector, according to a statement by Lion Capital, which will be left with the remaining 40 percent...
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