On 18 April 2017, it was announced that the American company Post Holdings would buy the company from Bright Food. Baring Private Equity Asia acquired the remaining 40% from Lion Capital in 2015. On Bright Food announced it was taking a 60% stake in Weetabix in a deal that values the company at £1.2bn. The product was introduced to Canada in 1967, when Weetabix Limited began exporting the product to Canada. Weet-Bix is currently marketed in Australasia by Sanitarium and South Africa by Bokomo. In 1936, the name of the company was changed to Weetabix Limited. The company commenced business in England in 1932 in an unused gristmill at Burton Latimer, near Kettering. While in South Africa, Osborne modified his Weet-Bix recipe and with Macfarlane, obtained private funding and began the development of a new company, The British and African Cereal Company Limited, naming the new company's product, Weetabix. Osborne and Macfarlane then went to South Africa where Arthur Shannon, the owner of Grain Products, funded another Weet-Bix factory. To both Osborne's and Macfarlane's disappointment, Grain Products sold both its Australian company (in 1928) and then its New Zealand company (in 1930), to the Sanitarium Health Foods Company. Weet-Bix was introduced in Australia through the company “Grain Products Limited” in the mid-1920s, with funding from businessman Arthur Shannon and marketing assistance from Osborne's New Zealand friend Malcolm Macfarlane. Both Weet-Bix and Weetabix were invented by Bennison Osborne, an Australian. Produced in the UK since 1932, Weetabix is the British version of the original Australian Weet-Bix.
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