Nestle, General Mills, PepsiCo and Turkish group Pladis want to munch on Weetabix
Nestle, PepsiCo, Lucky Charms owner General Mills, and Turkish food group Pladis are interested in gobbling up breakfast cereal brand Weetabix.
General Mills and Nestle are plotting a bid through their Cereal Partners Worldwide joint venture, the Daily Telegraph has reported.
The world's biggest cereal maker, Kellogg's, is not in the running to bid for Weetabix over competition concerns reportedly.
In 2012, China's Bright Food snapped up a 60 per cent stake in Weetabix from Lion Capital in a deal that valued the breakfast cereal giant at £1.2bn. It was the largest deal made by a Chinese company in the food and beverage sector at the time.
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In 2015, Baring Private Equity Asia bought Lion Capital's remaining stake for an undisclosed amount.
Bright foods has hired Goldman Sachs to carry out the sale.
Nestle and PepsiCo declined to comment while General Mills, Pladis, Bright Food and Baring Private Equity Asia did not respond to requests for comment.