Bright future for Weetabix

China’s Bright Food has this week completed the acquisition of its controlling stake in Weetabix.

The deal, which was first announced back in May, gives Bright a 60 per cent stake in Weetabix, which also owns the Alpen and Ready Brek brands.

The remaining 40 per cent of Weetabix belongs to private equity group Lion Capital.

Bright says the acquisition will enable it to grow the Chinese breakfast cereal market.