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Hony Capital eyes deal for Blackstone, PAI-backed United Biscuits

15 Jan 2014

China-based private equity firm Hony Capital could bid for UK-based United Biscuits – potentially alongside a strategic buyer, Bloomberg has said.

Hony has held “informal talks” with the company’s owners, private equity firms Blackstone Group and PAI Partners, according to the report.

The buyout pair paid £1.6bn for the company in 2006, which produces snack brands as Jaffa Cakes, Hula Hoops and Hob Nobs. The company has received a number of buyout approaches from both corporate and financial acquirers.

Back in 2012 Blackstone and PAI appointed Credit Suisse to consider the sale options for United Biscuits’ savoury snack division for around £500m.

Chinese food giant Bright Food also offered to buy the company back in 2010, though the deal fell through.

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