UK: Intersnack "close" to United Biscuits snack deal
By Michelle Russell | 4 December 2012
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Intersnack is one of a number of firms rumoured to be interested in the sale |
German savoury snacks giant Intersnack is understood to be close to signing a deal to acquire the salty snacks business of United Biscuits.
Intersnack, according to Sky News, is inching towards a "GBP400m-plus" takeover of the division, which manufacturers products include Hula Hoops and KP Nuts. A spokesperson for Intersnack, however, declined to comment on the reports.
The firm is one of a number rumoured to be interested in the sale. Last month, Japanese snacks group Calbee was understood to be a late entrant to the auction.
A spokesperson for United Biscuits confirmed to just-food in September that it was "actively trying to sell the KP snacks business" and that documentation giving details of the business had been sent to potential purchasers.
Recipients of the sale documents were understood to likely include many European consumer-focused private-equity firms, US food groups including Kellogg and Kraft Foods, and possibly some Chinese food groups.
Last month, former Tesco boss Sir Terry Leahy was understood to be leading a bid by private equity firm Clayton Dubilier & Rice (CD&R).
Neither Blackstone Partners nor United Biscuits would comment on the latest reports.
Sectors: Mergers & acquisitions, Snacks
Companies: Intersnack, United Biscuits, Kellogg, Tesco
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UK: Intersnack "close" to United Biscuits snack deal
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