Japanese snack firm Calbee has reportedly entered the race to buy United Biscuit’s KP salty snacks division.
According to Sky News, Calbee is considering a bid for the unit, which is valued at around £500 million. Financial advisory Rothschild is believed to be consulting with Calbee on its proposed bid.
Neither KP nor Calbree have commented on the report.
In September, private equity group Blackstone and French buy-out firm PAI Partners distributed a four-page sales document to prospective buyers. Several firms have been touted as potential suitors including Kellogg, Chinese food company Wahaha, Kraft, Clayton Dubilier & Rice, CapVest, Pamplona Capital and Intersnack.
However, Lion Capital’s interest is said to have waned.
