View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 12, 2014

NIGERIA: United Biscuits invests in local biscuit firm

United Biscuits has continued its international expansion with a move to buy a stake in Nigerian snacks group A&P Foods.

By Dean Best

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.

Related Companies

Topics in this article: , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food