Post Holdings Completes Acquisition of Weetabix
US consumer goods company Post Holdings has completed its acquisition of cereal company Weetabix, effective 3 July 2017.
The $1.8 billion (£1.4 billion) deal was announced in April, after China's Bright Food Group agreed to sell its 60% stake in Weetabix.
Alongside the acquisition, the company has also announced a number of senior appointments. Weetabix group marketing director Sally Abbot has been appointed managing director of the Weetabix Food Company, replacing Giles Turrell.
The company says that during’s Abbot’s tenure, its UK market share rose to its highest ever at 16.9%, and achieved sales of over £152 million.
Francesca Davies, currently head of category, will succeed Abbot as marketing director for UK and Ireland.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.