PORTUGAL/UK: Portuguese regulator clears United Biscuits buy
UK-based United Biscuits has announced that its acquisition of Portuguese biscuit manufacturer Triunfo Productos Alimentares has been approved by the Portuguese Competition Authority.
In 2004, combined sales in Portugal for UB and Triunfo are forecast to reach €75m (US$89.9m). The enlarged business will have a 39% share of the biscuit market, with brands including Hookie, Clasicas, Waferland, Corinta and Chipmix, United Biscuits said.
"This acquisition significantly strengthens our presence in Iberia adding a portfolio of strong market leading brands with the potential for crossover into our other markets. Southern Europe has long been one of our fastest growing regions consequently we now have six production plants giving us the scope to continue to increase sales and market share," said United Biscuits chief executive Malcolm Ritchie.
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