Private equity funds managed by Blackstone and PAI Partners have announced the sale of United Biscuits, the leading international manufacturer of biscuits, to Yildiz Holding, a major Turkish manufacturer of food products.
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.
Lionel Assant, European Head of Private Equity at Blackstone, 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.”
Frédéric Stévenin, Partner at PAI Partners, commented: “United Biscuits is an iconic business with leading global brands. We are very proud to have been part of its development and wish everyone at the company continued successes over the years ahead.”
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.”
With 60 factories, 11 of which are in foreign countries, Yildiz Holding employs a workforce of 41.000 and produces a range of products, including biscuits, chocolate, edible oil, dairy products, culinary products, baby food and packaging materials.