‘United Biscuits should be sold to a food business’

A MAJOR union has called for United Biscuits to be sold to an, “established and successful” food manufacturer.

The company, which owns McVitie’s Jaffa Cakes factory in Levenshulme, Manchester where 635 people work, is said to be on the market with a £2bn price tag.

It is owned by private equity firms Blackstone Group and PAI Partners which paid £1.6bn in 2006.

They are said to have approached a number of investment banks although no advisers have yet been appointed.

Employers’ organisations typically view private equity owners with suspicion and have accused them in the past of asset-stripping viable businesses.

Allan Black, GMB National Officer said: “As the largest union in United Biscuits with almost 2,500 members we are not surprised that the private equity pirates are looking to profit from their purchase.

“We hope that United Biscuits is bought by a company that has an established, successful food manufacturing background and record. In the event of a sale, GMB will be look to establish a positive working relationship with the new owners in the interest of improving and defending our members’ job security, pay and conditions of employment.”