British KP Nuts snacks firm sold to German Intersnack for £500m

KP Nuts is the latest addition to the list of British iconic food brands sold to foreigners

09:19 07 December 2012

United Biscuits, the second largest snack maker in the UK, has recently sold KP Nuts together with Hula Hoops and McCoy’s crisps to Germany’s Intersnack for £500m.

The purchase is thought to include UK factories manned by 1,500 staff in Middlesex, South Yorkshire, Leicestershire, and County Durham. The deal is expected to be finalised in 2013.

KP Nuts’ new owners are said to be keen in maintaining production in the UK.

Meanwhile, United Biscuits will still produce brands made from its biscuit factories, including Twiglets and Mini Cheddars. Blackstone and PAI Partners own the company.

KP is the latest addition on the list of Britain’s iconic food brands to be sold to foreign investors.

In October, Japanese company Mizkan bought famous brands under Crosse & Blackwell names, such as Branston Pickle. The Japanese company also bought Haywards pickled onions and Sarson’s vinegar.

It is understood that earlier this year, Bright Foods sold a controlling 60per cent stake in British breakfast cereal to Chinese government for £720million. Cadbury was also sold to Kraft of the USA.