Sector News

United Biscuits close to being sold to Turkey’s Yildiz Holding-source

November 3, 2014
Food & Drink
(Reuters) – United Biscuits’ private equity owners are close to sealing a deal to sell the UK-based cookies and snacks maker to Turkey’s Yildiz Holding for about over 2 billion pounds ($3 billion), including debt, a source familiar with the matter told Reuters.
 
Yildiz, a food and beverages maker which owns Ulker Biskuvi , had said in September that it was interested in investing in Jaffa cakes maker United Biscuits.
 
United Biscuits’ PE owners, Blackstone Group LP and PAI Partners, and Yildiz could announce a deal as soon as Monday, the source said.
 
PAI and United Biscuits declined to comment. Blackstone and Yildiz were not immediately available to comment.
 
If successful, Yildiz would have, according to various media reports, beaten breakfast cereal maker Kellogg Co, Jammie Dodgers and Wagon Wheels maker Burton’s Biscuit Co and Chinese private equity firm Hony Capital to the deal. ($1 = 0.63 pounds) (Reporting by Freya Berry in London and Esha Vaish in Bangalore; Editing by Savio D’Souza)

comments closed

Related News

October 2, 2022

Drinktec 2022: In review

Food & Drink

In the lead-up to the world-famous Oktoberfest – which celebrates Bavarian tradition, beer and the festival spirit – Munich was already buzzing with activity by the time the doors opened to Drinktec 2022 on 12-16 September. The atmosphere was lively, with approximately 50,000 visitors from 169 countries in attendance.

October 2, 2022

Alan Jope to step down as Unilever CEO

Food & Drink

Unilever has announced CEO Alan Jope’s decision to retire from the company at the end of 2023, after five years at the helm. The announcement comes less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.

October 2, 2022

Lakeland Dairies names Colin Kelly as next group CEO

Food & Drink

Lakeland Dairies has announced that Colin Kelly will assume the role of group CEO following the retirement of Michael Hanley at the end of the year. Kelly will take up the position in January 2023, while Hanley will step down in December this year.