The prospect of Jaffa Cakes for sale in Jiangsu and Hula Hoops in Hunan moved closer over the weekend, after it was revealed that China’s Bright Food was in exclusive talks to take over Britain’s United Biscuits, the owner of the McVities brand.
Bright Food is a state-owned enterprise, ultimately controlled by the Chinese government and is already one of China’s biggest food groups, with annual turnover of more than ￡4bn ($6.3bn) and brands that include Big White Rabbit candy and Shikumen yellow wine.
It is believed that the current owners of United Biscuits are seeking a deal that would value the Middlesex-based group at almost ￡2.5bn.
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