Turkish biscuit giant Yildiz Holding is planning to bolster its UK arm, which includes the McVitie’s and Jacob’s businesses, according to Just Food.
According to the news portal, Yildiz will seek to float its Pladis business on the London Stock Exchange as early as 2019, and will also refinance loans and divest shares in other businesses in which it has a stake, in order to fuel investment in the UK.
There have been suggestions that Yildiz is making the move in a bid to insulate itself from political instability in its home market, according to Just Food.
Pladis is an umbrella company set up in 2016, to encompass United Biscuits, Godiva Chocolatier, Ulker and DeMet's Candy Company - four of its main businesses - with the United Biscuits part of the business in line to receive a five-year £725 million unsecured loan next month from a group of European banks.
Elsewhere, its Ulker business is said to be in talks to buy the Saudi Arabian arm of United Biscuits.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.