Bright Food “in talks” to buy United Biscuits
Chinese food group Bright Food is in talks to purchase UK-based United Biscuits, owner of the McVities brand, according to reports.
It is understood that the deal, which would be the largest-ever overseas acquisition by a Chinese company in the food industry, would be worth around US$3.2 billion, Reuters reported yesterday.
The board of United Biscuits allegedly gave its private-equity owners, Blackstone and PAI Partners, permission in July to sell the business.
Shanghai-based Bright Food controls four listed companies, including Bright Dairy & Food Co.
“Bright Food is now in talks about buying United Biscuits,” Chen Chunshan, a company spokesman, told Bloomberg.
Bright Food and United Biscuits could not be reached for immediate comment.
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