25-10-2006, 12:10 PM
|
#1 (permalink)
|
Join Date: Jul 2005
Location: UK
Posts: 10,192
iTrader: ( 9)
Thanks: 35
Thanked: 77 Times in 59 Posts
|
|
United Biscuits bought for £1.6bn
Quote:
The owner of the McVitie's and Jacob's brands, United Biscuits, has been bought in a deal worth £1.6bn ($3bn).
US and European private equity groups Blackstone and PAI Partners have agreed to buy the company, and the deal is expected to go through by December.
United Biscuits, which was founded in 1948, employs more than 9,000 people, of whom about 7,500 work in the UK.
Other popular brands owned by United Biscuits include Jaffa Cakes, Penguin, Twiglets and Hula Hoops.
The purchase will be financed through a combination of equity contributed equally by Blackstone and PAI, as well as debt financing, the buyers said.
"Blackstone has a successful track record of owning and developing companies such as United Biscuits and I believe the company will benefit from their involvement," said United Biscuits chief executive Malcolm Ritchie said.
|
More info:
http://news.bbc.co.uk/1/hi/business/6083282.stm |
|
|
|
Linear Mode
December 2008
