Private equity funds managed by Blackstone and PAI Partners have agreed the sale of United Biscuits to Turkey’s Yildiz Holding, which owns Ulker Biskuvi, for a reported £2bn.
Commenting on the sale, Martin Glenn, CEO of United Biscuits, said: “We look forward to being part of Yildiz as we continue to fulfil our growth potential both in the UK and abroad where we are looking to expand our share of the biscuit and snacking markets and where there is huge potential for all our brands. I would like to thank Blackstone and PAI for their support. They have been instrumental in helping grow the company over the past few years.”
UB is a leading manufacturer and marketer of biscuits in the UK and second largest in the Netherlands, France, Belgium and Ireland. Among UB’s popular brand names are McVitie’s, Penguin, go ahead!, McVitie’s Jaffa Cakes, Jacob’s, Jacob’s Cream Crackers, Twiglets, Mini Cheddars and Carr’s in the UK, and BN, Delacre, Verkade and Sultana in Continental Europe. UB owns and operates 16 manufacturing facilities of which seven are in the UK.
© FoodBev Media Ltd 2019