Bright Food in Talks for United Biscuits

China's Bright Food is exclusive talks to buy the U.K.'s United Biscuits, which is partly owned by private-equity firm Blackstone Group.
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LONDON (

TheStreet

) -- China's

Bright Food

is in talks about acquiring U.K. snack and cookie maker

United Biscuits

, according to published media reports.

The exclusive talks were reported Sunday by

The Wall Street Journal

and London's

Sunday Times

. Both newspapers cited anonymous sources.

The

Journal

reported that one source said the deal, if completed, would be worth more than 2 billion pounds (about $3 billion), while the

Sunday Times

reported the deal would be worth between 2 billion and 2.5 billion pounds.

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The

Sunday Times

said that Shangai-based Bright Food pre-empted a planned auction for United Biscuits, which makes McVitie's biscuits and Jaffa Cakes and is owned by private-equity firms

Blackstone Group

(BX) - Get Report

of the U.S.

PAI Partners

of France.

--Written by a staff member of

TheStreet

.

>To contact the staff member responsible for this article, click here:

Ross Snel

.

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This article was written by a staff member of TheStreet.