The private equity owners of United Biscuits have hired JPMorgan and Goldman Sachs to run a £2bn ($3bn) auction for United Biscuits that is expected to attract some of the world’s biggest food groups.
UB, which has revenues of £1.3bn and net debt of £1.2bn, has continued to expand in spite of the UK recession, increasing operating profits to £223.4m last year.
Owners of UB are considering splitting the business into two parts – snacks and biscuits – to make it more palatable for...
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