Zongnan Wang sits down to a bowl of two Weetabix and milk every day. He says he eats it cold – “there isn’t so much time in the morning”.
He is following Victor Kiam, who liked his Remington shaver so much he bought the business. Bright Food, the Chinese group chaired by Mr Wang, has agreed to pay ￡1.08bn, including debt, for 60 per cent of the UK cereal maker.
The deal – nicknamed Project Sunshine – is forecast to cast a warm glow over both Bright Food and vendor Lion Capital.
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