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Chinese Food Company Eats English Breakfast

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China's Bright Foods Group acquires a 60% stake in Britain's cereal maker, Weetabix Food company. Cereal demand is growing in China and increased to 1.2 billion yuan or $191 million in 2011. This is an increase of 70% over 2006, according to Euromonitor International. Everbright sees large potential for Weetabix cereal in Asian markets. Cereal Partners Worldwide, a joint venture of General Mills, Nestle SA and Seamild Group of China, has the largest share for cereals in the Chinese market. Everbright is looking for more acquisitions as it plans to double sales in China by 2015 to about $14 billion. It has 3,300 retail stores in China. With the Weetabix stake Everbright gains shelf space and distribution channels in Europe and the U.S. An effort to take a 50% stake in French yogurt maker Yoplait failed in an earlier bid when it lost out to General Mills.

Cereal Partners Worldwide

05/04/2012

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Chinese Food Company Eats English Breakfast

Wall Street Journal 05/04/2012

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General Mills Is Serving Wheaties, the Breakfast of Champions, to Younger Consumers

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Kellogg's Profit Falls 16% as Cereal Sales Drop

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General Mills Profit Drops 25%

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Chinese Food Company Eats English Breakfast

Wall Street Journal 05/04/2012

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