Bright Food in talks to buy United Biscuits

Bright Food, the Chinese food group, is in exclusive talks to buy United Biscuits in a deal that would value the maker of Jaffa Cakes and Hula Hoops crisps at almost £2.5bn including debt.

Shanghai-based Bright Food is one of China’s biggest food groups with annual turnover of more than £4bn and brands that include Big White Rabbit candy and Shikumen yellow wine.