Thu, 11 Oct 2012 | DIVISION SALE
KP Snacks is to be sold off to a private equity buyer as soon as a suitable purchaser can be found, it has been suggested.
A prediction from leading corporate finance expert Trefor Griffith, head of food and beverage at accountancy firm Grant Thornton, noted that the appointment of former Kraft Foods UK president Nick Bunker as chief executive of KP Snacks last month formed part of the divestment strategy.
Rumours have increased with news that the former boss of Tesco is leading a takeover bid, along with further speculation that German firm Intersnack is exploring an offer.
Earlier this year United Biscuits (UB) split its salty snacks and biscuit businesses and bought in new management for JP Snacks. It is clear that the company has some further organisation to do in terms of deciding the future of the group, but at the moment it is unclear which areas will remain under UB's control and which will be sold.
Keren McCarron, corporate communications manager at UB, told bakeryandsnacks.com that a sale of UB itself is still very much just a rumour: “Regarding the various reports speculating on the sale of the business, this is still purely speculation and we are still not commenting on it.”
However, she added: “We are private equity owned, so obviously at some point that is going to happen.”
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