New era for United Biscuits as Turkish sale confirmed
THE private equity owners of Jaffa Cakes maker United Biscuits have sold the business to a Turkish group for a reported £2bn.
United has McVities manufacturing sites in Halifax, on the A6 in Burnage and in Carlisle, a group business centre in Liverpool and a Jacobs crackers site in Aintree.
The new owner is Istanbul-based Yildiz Holdings, which owns the Godiva chocolates brand.
Lionel Assant, European head of private equity at Blackstone which owned UB along with another investor PAI Partners, said: “United Biscuits is a great business and has been an excellent investment for us. Yildiz is the best home for the company and will allow UB to fulfil its international growth ambitions. I would like to thank United Biscuits’ management team for the way in which they have led the company and wish UB well under new ownership.”
Martin Glenn, chief executive of UB added: “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 last few years.”
United Biscuits, which also makes Penguin, Carrs water Biscuits, Twiglets and Mini Cheddars, has annual sales of around £1.3bn. In September it said it was cutting more than 100 jobs at its Manchester factory as part of an efficiency drive.
