View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 22, 2010

UK: United Biscuits board “approves sale plans”

The board of UK snacks and biscuit maker United Biscuits has reportedly given the green light to plans by the company's private-equity owners to sell the business.

By Dean Best

The board of UK snacks and biscuit maker United Biscuits has reportedly given the green light to plans by the company’s private-equity owners to sell the business.

According to the Financial Times, UB’s board met on Tuesday (20 July) to approve Blackstone and PAI Partners’ plans to sell the McVitie’s maker.

UB, which also makes brands including McCoy’s crisps and Penguin biscuits, declined to comment when contacted by just-food today.

Blackstone and PAI Partners bought UB in 2006 for GBP1.6bn (US$2.44bn) from a consortium including Kraft Foods and private-equity groups Cinven and MidOcean Partners. PAI already held a 40% stake in UB.

Reports in the UK suggest the business could attract offers of around GBP2bn this time around.

Related Companies

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