NIGERIA: United Biscuits invests in local biscuit firm
United Biscuits said Nigeria offered "strong potential"
United Biscuits has continued its international expansion with a move to buy a stake in Nigerian snacks group A&P Foods.
The McVitie's owner, which last autumn bought a majority stake in a firm in Saudi Arabia, announced the unspecified shareholding in A&P today (12 February).
United Biscuits said it had had "a long standing presence in the country covering several decades". Its brands on sale in Nigeria, including McVitie's, have either been exported to the UK or manufactured under licence.
Jeff van der Eems, the CEO of United Biscuits' international arm, said: "The Nigerian market has strong potential for UB. It is Africa's most populous country and the biscuit market is projected to continue to grow at double digit rates."
The deal, van der Eems said, means markets outside the UK account for 20% of United Biscuits' sales.
A&P Foods is part of Hong Kong conglomerate Assudamal Group. The company, based in Lagos, Nigeria's capital, makes snacks and confectionery sold under the Haansbro brand.
CEO Sameer Vaswani said: "A combination of our regional knowledge and a global biscuit brand such as McVitie's puts the company in a position where it can grow strongly in the local market."
In November, United Biscuits announced its acquisition of a majority stake in Saudi firm Rana Confectionery Products.
Following a reorganisation by its owners, United Biscuits sold KP Snacks to the German company Intersnack in order to release money for its private equity backers. As always in this situation, the out...
Synopsis The report presents detailed data on consumption trends in the Pretzels category in United Kingdom, analyzing consumption volumes and values at segment level. It also provides indispensable d...
Synopsis The report presents detailed data on consumption trends in the Meat Snacks category in United Kingdom, analyzing consumption volumes and values at segment level. It also provides indispensabl...
Synopsis The report presents detailed data on consumption trends in the Potato Chips category in United Kingdom, analyzing consumption volumes and values at segment level. It also provides indispensab...
- BRICs: The thinking behind Mondelez's Vietnam deal
- Interview part 1: BRF CFO Augusto Ribeiro
- Prospects for protein: Snacks growth to continue
- Comment: Why Gardein is Pinnacle's ideal fodder
- Deal or no deal: Should Danone buy Mead Johnson?
- 2 Sisters Food Group posts higher annual losses
- Kellogg trumps Abraaj bid for Bisco Misr
- Live blog: Food Matters Live
- Raisio buys UK, Ireland and Belgium Benecol ops
- Lactalis submits takeover bid for Arab Dairy
- Early Signals: future scenarios that will drive consumption and product innovation over the next five years
- Energy Bars Market in Canada: Market Profile to 2017
- The Snackification of Breakfast
- Dairy Product Production in China
- PepsiCo, Inc. : Consumer Packaged Goods - Company Profile, SWOT & Financial Report