United Biscuits is meeting with potential buyers including US cereal and snack maker, Kellogg Co, Italian chocolate confectionery, Ferrero, Canadian pension fund, Ontario Teachers' Pension Plan and Turkish biscuit company, Ulker Biskuvi Sanayi.
The deal could mark the second sale in the past year of a British biscuit company. In November, the Ontario Teachers' Pension Plan bought Burton's Biscuit Co, the 140-year old maker of Maryland biscuits and Jammie Dodgers for an undisclosed sum.
United Biscuits is the world's sixth-biggest biscuit and snack company by revenue with sales of £1.10bn in 2013. The company has around a 25% share of the UK market, mainly through the McVitie's brand.