Biscuits business nearly sold

French food group Danone is in advanced talks to sell its Jacob’s Irish biscuits business, according to Saturday’s Financial Times newspaper.

The paper said the business, which operates in Britain as well as Ireland and includes the Jacob’s cream cracker brand, could be worth over £200 million.

The FT said potential buyers of the business are United Biscuits, maker of McVitie’s biscuits, and private equity firm Hicks, Muse, Tate & Furst.