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Kraft in Talks to Buy Danone Biscuit Unit: FT

Kraft Foods, is understood to be in talks to buy the biscuit and cereal products division of Frances Groupe Danone, owner of the LU, Prince and Tuc biscuit brands, the Financial Times reported.

A deal would allow Kraft to cement its position as the worlds number one biscuit maker.

It was not clear last night whether the talks would result in a final sale agreement being signed, nor at what price, the newspaper added.

Danones biscuits and cereal products business had turnover of 2.2 billion euros ($2.98 billion) in 2006.

Kraft and Danone declined to comment to the FT.