The owners of United Biscuits has ended exclusive talks with China-based Bright Food to sell the UK biscuit manufacturer and are opening the possible GBP2bn (US$3.21bn) sale to new bidders, according to reports.
According to Reuters reports, PAI Partners and Blackstone, the private equity owners of United Biscuits, are likely to invite Kraft, Campbell Soup Co and Kellogg, which all looked at the company before it entered exclusive talks with Bright Food, back into the process.
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Unnamed sources said a number of rival buyout firms have also made approaches for the business and will be able to bid.
There has been ongoing speculation about the future ownership of the biscuit manufacturer after the company’s board approved plans to sell the business in July.
However, potential bidders, which includes Kraft Foods, Campbell Soup Co, PepsiCo and Premier Foods each face challenges that may prevent them bidding on the company.
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