Lion Capital is reportedly examining a US$2bn deal to acquire US cereal manufacturer Post Foods.

Reports in the UK over the weekend claimed that the private-equity firm, which owns UK cereal manufacturer Weetabix, was considering making a bid for the maker of Grape-Nuts and Raisin Bran. Officials at Lion declined to comment on the speculation.

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Ralcorp, which owns Post, announced plans last week to spin off the business so that it could build its own-label operations.

Ralcorp, which acquired Post from Kraft Foods in 2008, has seen its branded cereals business have a challenging few months. In the year to 30 September, branded cereal sales fell 8%, which pushed down profits from the division by 12%.

Weetabix, meanwhile, today announced a GBP7m (US$11.2m) campaign to promote its namesake cereal. It said the campaign dramatises the role Weetabix can play in setting people up for a busy day, marketing the brand’s slow release energy credentials.

The TV campaign will be supported by a series of radio ads, smartphone initiatives, social media and YouTube activity.

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“Consumers said to us that a big day ahead could mean a maths test, a long drive, making a presentation at work or simply ferrying the kids between activities, said Weetabix head of marketing Adrian Mooney. “The new campaign is designed to tap into that truth and the need  that all people from babies to senior citizens have for sustained energy to get them through their big day without faltering.”

Mooney said the company wants “Weetabix to own that ‘Big Day’ moment.” and that its aim is for “Weetabix to be front of mind for consumers when they think about preparing for their busy day.”