BURTON LATIMER, NORTHAMPTONSHIRE — Weetabix Food Co., backed by Post Holdings, Inc., has acquired Lacka Foods Ltd., owners and manufacturers of ŰFIT, the UK’s No. 1 ready-to-drink high-protein shake brand. According to Weetabix, the all-cash deal unlocks growth opportunities for Lacka Foods both in the United Kingdom and in international markets.
Following the transaction, Weetabix and Lacka Foods will continue to operate separately. The Lacka Foods management team will continue to run the business and drive growth in the fast growing high-protein RTD market, Weetabix said.
“Securing investment from a like-minded British business and family favorite such as Weetabix is a transformational step in the Lacka Foods story and will help accelerate our pace of growth in a rapidly expanding category both here in the UK and internationally,” said Austin Bailey, founder and managing director of Lacka Foods.Post Holdings acquired Weetabix in 2017 at a purchase price of approximately $1.77 billion from the Bright Food Group, Shanghai. Based in the United Kingdom, Weetabix is the manufacturer of cereals, mueslis, oat granolas, breakfast drinks and nutrition bars sold under such brands as Weetabix, Oatibix, Alpen and Barbara’s.