Kraft Foods acquires a part of Britain’s United Biscuits

Kraft Foods acquires a part of Britain’s United Biscuits

US based Kraft Foods are reported to be spending around 575 million pounds to acquire a part of the Britain’s United Biscuits.

Kraft Foods is the world’s second largest food company and the reports claim that they signed the deal during the weekend.

The deal is expected to be announced in media sometime today. The deal is said to be including the UB’s Spanish operations. They are the Britain’s biggest biscuit maker and trails Danone in the European markets.

Interestingly, the two companies are also working with each other as UB’s southern European business makes Kraft’s Oreo cookies.