Rotherham's KP Nuts in £500m takeover

ROTHERHAM-based KP Snacks has been taken over by a German firm in a multi-million pound deal

Intersnack, which makes Pom-Bear crisps has taken over the firm, based on Rotherham’s Eastwood Trading Estate, in a £500m deal with United Biscuits.

KP Snacks numbers McCoys crips, Hula Hoops and KP Nuts among its brands.

It is hoped the deal will secure jobs and make way for further investment in the firm.

KP Snacks employs approximately 1,500 people but its purchase by Intersnack will see the creation of alliance with combined net sales of more than £1.7 billion and 8,000 employees.

A statement issued by Intersnack revealed that the acquisition will be funded by a combination of shareholder equity and fully underwritten bank debt, provided by Commerzbank AG, HSBC Trinkaus & Burkhardt, HSBC Bank plc and UniCredit Bank AG.

The bank debt will be syndicated to a wider bank group.

United Biscuits will retain ownership of its baked bagged snack brands — including McVitie’s and Jacob’s — as part of its deal with Intersnack.