Chinese food and beverage group Wahaha has reportedly emerged as the frontrunner in the bidding process for the snack unit of United Biscuits.
According to a report in The Daily Telegraph, UB’s private-equity owners, Blackstone and PAI Partners, have sent out a four-page sales document to approximately six potential buyers, including Wahaha, Kellogg and Kraft Foods.
The report places Wahaha at the head of the pack in the sale process, which has been valued at around GBP520m (US$816m).
A spokesperson for UB told just-food the group was not commenting on the progress of the sale process. Wahaha could not be reached for comment at time of press.