Advertisement

ma

Intersnack gobbles up British KP Snacks

Author thumbnail
Intersnack gobbles up British KP Snacks
Photo: DPA

Favourite British snacks such as Hula Hoops, Nik Naks and McCoy's Crisps have been snapped up by German pretzel and salted stick maker Intersnack for around €600 million.

Advertisement

Britain's KP Snacks, initially famous for its bags of nuts which used to be a staple in pubs across the country, owns a range of snack brands, but is itself owned by United Biscuits.

Intersnack and United Biscuits, which also owns brands such as McVitie's, Penguin, Jacob's Cream Crackers and Twiglets, said KP Snacks had an annual turnover of £280 million (€346 million euros) and employed a workforce of around 1,500.

The price of the deal, which is expected to be finalised by March next year, was not divulged by either side but media reports put it at about €600 million euros.

Intersnack, a family-run business based in Düsseldorf specialising in potato crisps, nuts, crackers, pretzels and salted sticks, is targeting annual sales of €1.7 billion this year and employs a workforce of 6,500.

In addition to the brands, the deal also includes other assets such as KP's British manufacturing facilities and a head office, the statement said.

AFP/hc

More

Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also