San Miguel Corp to consider acquiring United Biscuits
Philippines-based San Miguel Corporation and Saudi Arabian food producer Savola are reportedly considering making bids to acquire UK-based snacks firm United Biscuits, in a £2bn deal.
United Biscuits manufactures and distributes biscuits, savory snacks, and chilled and frozen foods. It offers its products under various brands such as McVitie’s, Jacob’s, Twiglets, Carrs, and McVitie’s Jaffa Cakes, among others.
Founded in 1948, United Biscuits operates as a subsidiary of United Biscuits Topco.
The Sky News reported that breakfast cereal maker Kellogg has emerged as a potential buyer of the snacks producer in August.
Italian confectioner Ferrero, Turkey’s Ulker and Ontario Teachers Pension Plan, which owns UK biscuit maker Burton’s were also reportedly in talks to buy United Biscuits, the news agency reported.
United Biscuits’ private equity owners, Blackstone Group and PAI Partners are working for a sale or public share listing that would take place by the end of the year.
