The biggest U.K.-based food manufacturer may break up as its private equity owners plan to revive attempts to sell it, according to reports.
United Biscuits, the British food manufacturer of sweet and savory snacks, may be divided up as its private equity owners try again to sell it, Britain’s Sunday Times reported. The move could involve the group’s biscuit business, including the McVitie's brand, separating from the snacks division, the report said. Advisers Goldman Sachs Group Inc. and J.P. Morgan will start a process in the coming months, it added.
Blackstone Group L.P. and PAI Partners said they earmarked the end of the year to start new sale talks for privately-owned United Biscuits, according to the report. The two companies bought the group in 2006 for GBP1.6 billion.
U.S.-based Campbell Soup Co., Camden, N.J., is expected to review its interest in United Biscuits, which accounts for about 75% of the group’s sales, the report stated. Germany’s Intersnack could also be interested in the snacks division, it said.
United Biscuit Owners Break Up
August 22, 2011