United Biscuits Acquires Stake In A&P Foods
News: UK-based United Biscuits (UB) has acquired a stake in Nigeria-based biscuits manufacturer A&P Foods for an undisclosed sum. The investment is part of the company's foreign expansion plans and will add around 20% to the group revenues. The Nigerian market has a strong potential for UB, according to UB International CEO Jeff van der Eems. 'A combination of our regional knowledge and a global biscuit brand such as McVitie's puts the company in a position where it can grow strongly in the local market,' Eems added (Food Business Review).