Weetabix could be sold for about £1bn in January, after its majority owner – China’s Bright Food Group – reportedly hired Goldman Sachs to sell the breakfast cereal manufacturer.
A trade buyer looks set to acquire United Biscuits (UB) if a sale is decided upon, with Kellogg a strong contender among three core bidders, according to an industry expert.
United Biscuits’ factory cuts continue, with the firm behind Jacob’s Cream Crackers, Twiglets and Jaffa Cakes confirming plans to cut up to 157 jobs at its McVitie’s factory in Manchester.
The City is uncertain about Ranjit Boparan’s plans for Northern Foods, with analysts divided on whether he needs to sell brands such as Fox's Biscuits and Goodfella's to pay down debt following his £342m takeover.
