There is speculation in the City that Campbell Soup Company is preparing to make a £1.5bn takeover bid for part of the UK’s largest snack maker United Biscuits.
Reports suggest the US company and its iconic canned soup brand are looking to pay £1.5bn for the biscuit making division of United Biscuits, which makes Penguin, Jaffa Cakes and McVitie products. It is not thought to be interested in UB’s savoury snacks brands including McCoys, KP and Jacob’s.
The Guardian newspaper reports that Campbell has engaged private equity advisers Ceterview Partners to broker the deal.
Other companies speculated to be interested in buying UB include Kellogg’s, Pepsico and Kraft, which recently bought Cadbury.
United Biscuits declined an offer to comment.