M&As this week: Hill Biscuits Limited, Post Holdings
Bennett Family has exited its investment in biscuit manufacturer Hill Biscuits by selling its entire stake in the latter to UK-based private equity firm LDC (Managers).
Hill Biscuits expects the transaction to enable capacity expansion and new product development.
Post Holdings has reached an agreement with Bright Food Group and an investment fund advised by Baring Private Equity Asia to acquire their entire stake in Weetabix, a packaged ready-to-eat cereals producer based in the UK.
Expected to be completed by Q3 this year, the £1.4bn ($1.79bn) purchase consideration for the acquisition is to be funded through a combination of cash on hand and borrowings under its existing revolving credit facility.