Press release -
Savoury snacks market company KP Nuts sold to German firm
The company that makes KP Nuts, Hula Hoops and McCoy's crisps has been sold to a German firm for a reported fee of £500 million. The business, which is the UK's second largest snack maker, was sold by United Biscuits, which also owns the McVitie's and Jacob's brands.
Subject to completion next year, they will join the UK savoury snacks business of Intersnack, which makes Pom-Bear crisps and Penn State pretzels.
United, which is owned by private equity firms Blackstone and PAI Partners, will retain the baked bagged snacks brands manufactured in its biscuit factories, including Mini Cheddars and Twiglets.
Including KP Snacks, United employs around 8,000 people, 7,000 of them in the UK. Intersnack was founded in 1968 and is on track for record sales of £1.4 billion this year, including £80 million from the UK.
Intersnack, which has turnover of about 100 million euros in the UK, said the deal would allow it to grow further and strengthen its position.
The deal will be financed with Intersnack's shareholder equity and a syndicated loan underwritten by Commerzbank, HSBC Trinkaus & Burkhardt, HSBC and UniCredit.
For more information on the savoury snacks market, see the latest research: Savoury Snacks Market
Follow us on Twitter @CandMResearch
Topics
- Food
Categories
- savoury snacks market
- savoury snacks industry
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.
