Bright Food has been in talks about buying Weetabix from UK private equity firm Lion Capital for over several weeks, according to people familiar with the deal.
However, it is unclear how far along the talks have progressed, reported the Financial Times.
Weetabix is the second-largest branded manufacturer of breakfast cereals and cereal bars in the UK. The company has presence in North America, South Africa, Germany and Spain and exports to more than 80 countries around the world.
The company's Weetabix accounts for 7% of the country's total cereal sales. Its other brands include Alpen, Ready brek and Oatibix. It generated revenues of £449m in 2010.
