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Cereal company taken over by Chinese firm

Weetabix factory Credit: ITV Anglia

Weetabix, the cereal maker based in Northamptonshire has been taken over by a Chinese company.

Shanghai firm Bright Food will take a majority sixty per cent share in Weetabix which will value the giant food manufacturer at £1.2 billion.

Weetabix, which also owns Alpen and Ready Brek, was founded in 1932.

It was family owned until 2004 when it was bought by a Texan private equity firm

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