April 18, 2017 / 5:58 AM / 3 months ago

China's Bright Food to sell Weetabix to Post Holdings for $1.76 bln

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SHANGHAI, April 18 (Reuters) - China's Bright Food Group Co Ltd has agreed to sell iconic British cereal brand Weetabix to U.S. cereal company Post Holdings for $1.76 billion, a spokesman for the Chinese conglomerate said on Tuesday.

Reuters reported in January that Post Holdings was among four bidders vying for Weetabix. The other bidders were Associated British Foods, Cereal Partners Worldwide and Italian pasta maker Barilla. (Reporting by Adam Jourdan and David Lin; Editing by Himani Sarkar)

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