Turkey’s largest food group Yıldız Holding, which is behind the popular Ülker brand of foods, has entered the UK marked by buying snacks maker United Biscuits.
United is the maker of McVitie’s biscuits, Jaffa Cakes and Jacob’s crackers and, at £2bn, is reported to be the group’s largest acquisition yet.
“We want to grow United Biscuits to be a global player as part of Yıldız,” said Murat Ulker, chairman of Yıldız Holding.
“This will include enhancing its position in the UK, where Yıldız currently has minimal presence, so we will continue to invest in the UK and Europe,” he said, adding Yıldız would work with United Biscuits’ existing management.
Yıldız bought premium chocolate maker Godiva for $850 million in 2007 and DeMet’s Candy Company, the U.S. maker of Flipz chocolate pretzels and Turtles covered nut clusters, for $221 million last year.