United Biscuits Mulling Split
UB's owners, Blackstone Group LP and France's PAI Partners, tried unsuccessfully in 2010 to unload the entire business, but ultimately were unable to even after they came close to a deal with China's Bright Food Group. The hiring of Credit Suisse shows they are trying again, but this time will attempt to sell the company in pieces, starting with snacks.
The snack business has about a dozen brands including McCoy's potato chips, Hula Hoops, Mini Cheddars and KP nuts.
The rest of the business, which accounts for about two-thirds of UB's sales, encompasses products including biscuits and cakes.
From the March 14, 2012, Prepared Foods' Daily News.