Blackstone, PAI prepare for United Biscuits carve-up
Private equity-owned United Biscuits, a one-time target of China’s Bright Food Group, is preparing to spin out its salty snacks business in a potential GBP500 million ($780 million) sale. The Blackstone Group and PAI Partners are keen to separate the UK firm’s salty snacks division from its larger biscuit business.
According to the Financial Times, Credit Suisse has been lined up to consider options for the spinout, which include a sale. Private equity firms and strategic investors are expected to be drawn to the...
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