United Biscuits (UB) has finally announced it has separated its snacks business, after steadily denying the related rumours over recent weeks and months.
The firm today (Monday 6 August) announced the appointment of a new chief executive, Nick Bunker, to head up the snacks business, which is to be renamed KP Snacks.
Bunker will join UB with effect from 1 September, from Kraft, where he is currently president of Kraft Foods UK/Ireland.
The UB Board said it saw substantial growth opportunities both in the UK and internationally. “The new CEO, together with the recently appointed dedicated management team, will provide the focus to move this business to its next level,” it added.
KP Snacks will comprise household brands such as McCoy’s, Hula Hoops, KP Nuts and Skips, as well as Phileas Fogg, Space Raiders, Nik Naks and Wheat Crunchies.
Said Bunker: “I am delighted to be offered the chance to lead the snacks business, which contains some of the best-known household names in the category. I look forward to building on the company’s success with these brands.”
Last month, British Baker reported that rumours were continuing regarding the potential sale of its snacks business, with a report from news wire Dow Jones suggesting the firm had been successfully separated into two discrete businesses by global financial firm Credit Suisse Group.