United Biscuits to be Split Up Prior to Sale
Private equity firms Blackstone Group and PAI Partners, which own United Biscuits, are reported to be planning to divide up the UK’s largest biscuit manufacturer in preparation for a sale of the business. It is thought that the biscuits element of United Biscuits, which accounts for about 75% of sales and includes the McVitie’s brand, will be split from the snacks business, which incorporates brands such as Hula Hoops and McCoy’s crisps.
Blackstone Group and PAI Partners, which purchased United Biscuits for £1.6b in 2006, tried, without success, to sell off the entire business last year.
US-based food group Campbell Soup is a likely suitor for the biscuits business, while Intersnack of Germany may be interested in purchasing the snacks division.
