Chinese talks over United Biscuits

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Chinese food company Bright Food is reportedly in talks to buy Britain’s United Biscuits for than £2 billion (€2.3bn), according to the Sunday Times.

United Biscuits saw good performance in 2009 with revenues of £1.26 billion (€1.46bn) but rumours of a possible sale of the business have been circulating since July.

Bright Foods’ confectionery business manufactures a popular Chinese brand of sweets called White Rabbit. It recently lost a bidding war for Australian sugar refiner CSR. The Chinese group generated sales of more than 76 billion yuan (€8.3bn) in 2009. Reuters reported in July that United Biscuits’ owners, private equity firms Blackstone and PAI Partners, were considering selling. Last month, it was also reported that US group Campbell Soup Company was considering making a move on the biscuit arm of United Biscuits.