Germany's Intersnack takes bigger bite of UK market
In another German raid on the UK food industry, the Pom-Bear owner has agreed a deal to buy United Biscuits' salty snacks business, including Hula Hoops, McCoy's and Skips.
Intersnack announced this morning (5 December) that it has reached an agreement to purchase the snacks arm of United Biscuits, KP Snacks. The news ended months of speculation over who would acquire the unit after it was put on the block by its private-equity owners, Blackstone and PAI Partners. Intersnack international marketing director Bernd ter Glane spoke to Katy Askew about the German company's plans for the group.
Intersnack has reached a deal to acquire the snack unit of United Biscuits for an undisclosed sum.
Japanese snacks group Calbee is understood to be a late entrant in the auction of the salty snacks business of United Biscuits.
Zetar's decision to accept a bid from Germany's Zertus raised eyebrows but the UK confectioner and snack firm, frustrated at not being able to grow as quickly as it wanted, sees the sale as a way to fulfil its European ambitions.
Former Tesco boss Sir Terry Leahy is understood to be leading a bid by private equity firm Clayton Dubilier & Rice (CD&R) for the salty snacks business of United Biscuits.
Chinese food and beverage group Wahaha has reportedly emerged as the frontrunner in the bidding process for the snack unit of United Biscuits.
Speculation over the potential sale of United Biscuits' salty snacks division will start up again this week following the appointment of Kraft Foods' Nick Bunker as CEO of the unit.
The private-equity owners of United Biscuits are considering offloading the salty snacks side of the business may come as little surprise, with the UK group set to be split in two. With the auction process expected to begin in several months time, Katy Askew takes a look at the likely suitors for the Hula Hoops maker.
Blackstone Group and PAI Partners, the private-equity owners of United Biscuits, are considering the possibility of selling the UK firm's salty snacks business.
Muller and Robert Wiseman Dairies are talking up the benefits of the German yoghurt maker's planned takeover of the UK milk supplier but profits in the sector have been under pressure in recent months.
- Analysis: Is Heinz, Kraft merger "a growth story"?
- McDonald's antibiotics move may be seminal moment
- M&A Watch: Who could be on 3G Capital's radar?
- Viewpoint: Faber-led Danone gets realistic
- Green Giant talk underlines pressure at Gen Mills
- UPDATE: Heinz, Kraft strike merger agreement
- Kraft "in buyout talks" with Heinz owner 3G
- Fatal explosion at French desserts firm Senagral
- Heinz to cut 71 jobs at UK plant
- Infographic: Heinz, Kraft unveil combined business