Sky News has reported that the American food giant has appointed investment bankers at Barclays to assess the offer for UB, parent company of the McVitie’s and Jacobs brands.
British Baker was told by a spokesperson for Kellogg’s that it was not commenting on “rumours or speculation”, when we approached them today. United Biscuits also declined to comment.
There has been speculation and reports that that Blackstone and PAI could be preparing a possible IPO or sale at the end of this year. The private equity owners failed to sell the business in 2010.
A number of other parties have been linked to a potential takeover, including the Campbell Soup Co and Chinese investment firm Hony Capital, alongside an unnamed strategic partner.
Sky news commented that a public listing was the likeliest option, but that a final decision would depend on the state of stock markets later in the year and the value of formal offers received from bidders.