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.

Sales of Hula-Hoops, Jaffa Cakes and other products made by United Biscuits reached £1.3bn (€1.9bn) in the last year, it emerged today.