That's it! They were UK Fruit Loops and come to think of it they were a bit wierd. They weren't exactly as I remembered but I put that down to my memory being off. Not surprising since my parents would have never in a million years bought me Fruit Loops, Lucky Charms or the true connoisseur's choice, Captain Crunch.
Figures that the UK Fruit Loops would taste like cardboard and be ridiculously expensive.