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.
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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.
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