United Biscuits sold to Turks for £2bn

United Biscuits (UB), the UK’s biggest and best-known biscuit maker, has been sold to Turkish-based international biscuit manufacturer Yildiz Holdings for a sum reputed to be in the region of £2bn. 

UB, which makes McVitie’s, Penguin and Jaffa Cakes, Twiglets, Jacob’s and Carr’s among a host of other famous brands, was previously owned by private equity houses Blackstone and PAI Partners.

Martin Glenn, chief executive ofUB, said: “We look forward to being part of Yildiz as we continue to fulfil our growth potential both in the UK and abroad, where we are looking to expand our share of the biscuit and snacking markets and where there is huge potential for all our brands.”

Yildiz’s best-known brand here is Godiva chocolate, and the company said it would be using its international distribution network to drive UB’s sales in new territories.

UB employs employs about 7,100 people, with 4,600 in the UK at sites including London, Manchester, Carlisle, Glasgow, Halifax and Liverpool.

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