Freshfields Bruckhaus Deringer has advised United Biscuits and its principal shareholders, Blackstone and PAI Partners, on the sale of United Biscuits to Yildiz Holding.

Signing of the transaction was announced yesterday.

United Biscuits is a leading manufacturer and marketer of biscuits in the UK and second largest in the Netherlands, France, Belgium and Ireland. UB owns and operates 16 manufacturing facilities of which seven are in the UK.

Corporate partner Sundeep Kapila commented: ‘The deal reaffirms our view that the options available for premier assets remains strong. The continued attraction of the capital markets and interest from established strategic players as well as global financial investors means, with the right handling, opportunities are still firmly out there. Bringing together these two highly complementary businesses is a great result all round for United Biscuits and their shareholders.’

The Freshfields team advising on the sale process was led by corporate partner Sundeep Kapila, supported by corporate associate Chetan Sheth.