St. Louis-Based Post Holdings Buys British Breakfast Cereal

ST. LOUIS (KMOX) – Locally-based Post Holdings, best known for its cereal brands, is acquiring a British breakfast favorite.

Post is adding a British breakfast standard to its stable. It will pay almost $2 billion to buy Weetabix from a Chinese cereal maker. Weetabix was never a big hit in china where Bright Foods has tried to interest people there in cold breakfast cereal, but Post has a big interest.

Post wants a bigger footprint in Britain, and since the drop in the pound that followed the British decision to leave the European Union, that deal became a lot more attractive.

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