Chinese soft drink firm Wahaha has emerged as a surprise frontnrunner in the battle to acquire the snack unit of United Biscuits,nwhich controls brands such as Hula Hoops and KP Nuts and hasnbeen put up for sale by its private equity owners. An acquisitionnwould boost Wahaha’s portfolio of foreign brands in the Chinesenmarket as well as help to diversify the firm’s geographic spread bynproviding access to high-spending European markets.
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