French food group Danone is reported to be in talks that could result in the sale of its Jacob’s biscuits unit.
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UK-based United Biscuits and private equity firm Hicks, Muse, Tate & Furst are thought to be among the potential buyers, reported the Financial Times. The business, which operates in Ireland and the UK, is believed to be worth more than £200m (US$374m).
According to one analyst, a sale would be positive for Danone shareholders.
“Jacob’s has little business strength, breadth and depth and operates in a weak market environment where there is little prospect for growth and where private label is dominant,” Andrew Wood, from Sanford C Bernstein, was quoted by the newspaper as saying.
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