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UK-based United Biscuits (UB) Holding Limited has bought a stake in one of Nigeria’s cookie maker A&P Foods, six months after its acquisition of purchased the assets of Rana Confectionery Products in Saudi Arabia.
A statement by UB on Tuesday did not, however, state the size of the holding and scale of investment in A&P Foods.
United Biscuits has had a presence in Nigeria spanning several decades and to date has either exported products from the U.K. or had them manufactured locally under license.
International sales at the closely held maker of McVitie’s have tripled since 2006 and now account for about a fifth of total revenue.
“The Nigerian market has strong potential for UB,” Chief Executive Officer Jeff van der Eems said in a Bloomberg Reports. “It is Africa’s most populous country and the biscuit market is projected to continue to grow at double-digit rates.”
