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United Biscuits sold to Turkey's Yildiz for £2b

04 November 2014 by
United Biscuits sold to Turkey's Yildiz for £2b

United Biscuits has been bought by Turkish food group Yildiz Holdings for a reported £2b.

According to the BBC, United Biscuits was put up for sale by its private equity owners Blackstone and PAI Partners. The company employs more than 7,000 people and has sites in London, Manchester, Carlisle, Glasgow, Halifax and Liverpool.

Yildiz, who own Belgium's Godiva Chocolate and America's De Met's Candy Company has no operations in the UK, but has a presence in the US, Middle East, North Africa, China, and Japan.

Chairman Murat Ulker said: "We want to grow United Biscuits to be a global player as part of Yildiz.

"This will include enhancing its position in the UK, where Yildiz currently has minimal presence, so we will continue to invest in the UK and Europe," he said.

Lionel Assant, European head of private equity at Blackstone, said: "United Biscuits is a great business and has been an excellent investment for us. Yildiz is the best home for the company and will allow United Biscuits to fulfil its international growth ambitions."

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