Pladis is no longer looking to sell UK savoury-snacks brand Jacob’s, the company’s chief executive has said.
There has been speculation over the future of the Jacob’s brand, under which Pladis markets crackers and crispbreads, as well as sub-brands including Mini Cheddars and Twiglets.
In an interview with The Times, Salman Amin, who was appointed Pladis CEO in February 2019, insisted the Jacob’s brand “is in our future”.
Having a set of savoury-snacks products alongside sweeter offerings such as McVitie’s, means Pladis can market to a broader range of consumers, Amin added.
Back in 2018, Sky News reported Pladis, the international snacks business of Turkish food group Yildiz Holding, had hired investment bank Oppenheimer to oversee an auction of Jacob’s.
In February last year, Bloomberg said the company was aiming to sell Jacob’s in 2019.
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Yildiz merged its global confectionery and biscuits businesses into the single operating unit of Pladis in 2016. At the time, Yildiz spoke of plans to float Pladis in London by 2020.
Speaking to The Times, Pladis chief Amin said that was not the table. “An initial public offering is a choice one makes based on the capital structure a business wants or if they need cash, and we don’t see any of those issues right now,” he told the newspaper.