Second round bids for Kettle Foods brings sale closer

The Telegraph reports a number of food groups are thought to have lodged bids for the whole group – which delivered sales of £150m in 2008 – or just the UK or US assets, which are each worth roughly half of the combined value.

United Biscuits, which has been slated for an initial public offering (IPO) next year by its private equity owners Blackstone and PAI, is thought to have offered up to £200m for the UK asset.

A variety of players in the North American consumer market – including Cape Cod potato chips maker Lance, pretzel makers Snyder's of Hanover and Intersnack, and organic food group Hain Celestial – are all thought to have made bids for the whole company or just the US asset.

PepsiCo, thought to be cool on entering the auction because of regulatory constraints around its Walkers crisp brand, launched a rival to Kettle Chips in the luxury crisps market last year called Red Sky.