United Biscuits sale rumoured
British-based baked goods and snacks giant United Biscuits, producer of McVities, Carr’s, Jaffa Cakes, McCoy’s and Phileas Fogg, is rumoured to be next for the hammer, with UK news outlets reporting that a sale is under consideration.
Owners, private equity firms Blackstone Group LP and PAI Partners, could net as much as 2 billion pounds (A$3.4 billion) for the sale of the company they purchased in 2006, for 1.6 billion. There is also speculation that the biscuit and snack divisions of the group may be split up and sold separately.
United Biscuits reported record profits in 2009 under executive chairman David Fish, with revenues of 1.6 billion pounds.
No sale is likely in the immediate future, with Blackstone and PAI reported to be conducting a strategic review of the company.