Sector News

San Miguel submits bid for UK snack maker

September 24, 2014
Food & Drink
(ABS-CBNnews.com) – Diversified conglomerate San Miguel Corp. on Wednesday confirmed it has submitted a bid to acquire United Kingdom-based snack maker United Biscuits.
 
San Miguel president and CEO Ramon Ang confirmed the bid in a mobile text message.
 
United Biscuits is the owner of snack brands such as Jaffa Cakes and Twiglets. Its private equity owners, Blackstone Group and PAI Partners are exploring a sale or initial public offering of the company, which is estimated to be worth 2 billion pounds ($3.3 billion).
 
However, San Miguel will be up against bidders such as Burton’s Biscuit Co. and Kellogg Co.
 
Bloomberg reported Burton’s, Kellogg and Turkish food producer Ulker Biskuvi Sanayi AS have made bids to acquired United Biscuits.

comments closed

Related News

May 21, 2022

Cécile Béliot becomes Bel Group CEO

Food & Drink

Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.

May 21, 2022

“Corporate greed and dereliction of duty”: FDA commissioner slammed over infant formula shortage

Food & Drink

US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.

May 21, 2022

Sweegen hails antioxidants and bitter blocking tech a turning point for sugar reduction and healthy aging

Food & Drink

Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.