UK firm United Biscuits, which is the subject of fresh speculation over its future, is to split its biscuit and snacks units in its domestic market.
In a statement today (23 March), the KP Nuts and Hula Hoops maker said it will create two new business units within it UK structure, one for biscuits and one for snacks.
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“We believe that this more focused approach will help us provide improved service to our customers and more targeted innovation and product development for our consumers,” the company said.
Earlier this month, Blackstone Group and PAI Partners, the private-equity owners of United Biscuits, were reported to be considering the possible sale of the firm’s salty snacks business, which has been valued at around GBP500m (US$781.4m).
A source familiar with the situation told just-food the move was being considered as it would “realise more value” for the private-equity firms.
“Both businesses would operate more effectively on a separate basis, which would realise more value for shareholders,” the source said.
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By GlobalDataIn 2010, Blackstone and PAI had looked at selling all of United Biscuits for around GBP2bn but they failed to find a buyer.
United Biscuits employs around 8,300 people across 11 locations in the UK. The company said there will not be any redundancies as a result of the restructuring.
