Chinese company in talks to buy United Biscuit
September 27, 2010
LONDON — Bright Food Group Co., one of China’s largest food companies, is in talks about a possible purchase of London-based snacks and cookies maker United Biscuit Holdings Ltd. (U.B.), according to The Sunday Times.
According to reports, the transaction would be valued at approximately £2.5 billion ($3.96 billion).
Private equity firms The Blackstone Group and PAI partners acquired U.B. for more than $3 billion in late 2006. But in recent months the firms have been undergoing a strategic review of United Biscuits.
U.B.’s brands include Carr’s crackers, McVitie’s biscuits, Penguin and Hula Hoops snacks.
In addition to Bright Food, Camden, N.J.-based Campbell Soup Co. and Vevey, Switzerland-based Nestle S.A. have been mentioned as possible purchasers of the U.K.-based food company.