Snack favourites including KP Nuts, McCoy’s crisps and Hula Hoops were sold to a German firm today in a deal thought to be worth more than £500m (€615.9m).

New bidders are being sought for Jaffa Cakes and Hobnobs firm United Biscuits after talks with a Chinese food giant hit the buffers, it was reported today.

McVitie’s and Jacob’s owner United Biscuits agreed today to a £1.6bn (€2.4bn) takeover by a consortium made up of two private equity firms.

McVitie’s and Jacob’s owner United Biscuits agreed today to a £1.6bn (€2.4bn) takeover by two private equity firms.