Dive Brief:
- Yildiz Holding A.S. will buy United Biscuits for $2.6 billion, giving the Turkish company control of a number of cookie and snack brands with global appeal.
- The deal marks a defeat for other food-makers who sought to win United Biscuits, including Kellogg and rival Burton's Biscuits.
- The sale comes just three months after Yildiz, which has been seeking to grow though acquisitions outside its home market, apparently lost a bid for Russell Stover chocolates.
Dive Insight:
If you've spent anytime in the U.K., you know all about the British fascination with the cookies they call biscuits or digestives. And if you've paid attention to the remarkable rise of Mondelez's belVita breakfast biscuit brand here in the States in recent months, you can see why Kellogg might have seen salvation in a buy of United Biscuits.