The owners of the Shanghai-based company given a green light to buy more than half of Synlait milk is now looking to snap up some of Britain's best-known brands.
Bright Dairy's investment of $82 million for 51 per cent of Canterbury firm Synlait Milk was approved on Monday by the Overseas Investment Office. Details of that partnership show Bright Dairy to be 65.4 per cent owned by Chinese food and beverage company Bright Food Group - which the UK's Daily Mail newspaper said was making a £2.5 billion ($5.4 billion) takeover bid for United Biscuits.
Bright Food Group is owned by the Shanghai local government.
The deal would be the first major takeover of a British food group by the Chinese, the newspaper said.
United Biscuits' brands include Jaffa Cakes, McVitie's Digestive, Twiglets and Hula Hoops.
United Biscuits was currently in overseas ownership through private equity companies US business Blackstone and French firm PAI Partners, which paid £1.6 billion for the company in 2006.
Synlait buyer targets British biscuits
John Penno, chief executive of Synlait. Photo / Supplied
AdvertisementAdvertise with NZME.
