Blackstone and PAI Partners plan to sell UK's biscuit-market leader United Biscuits (UB) for an estimated £2bn, say reports.

The private equity firms are known to be meeting investment bankers this week for advice on the sale of the company, which owns brands such as McVitie's, Jacob's and Hula Hoops.

The formerly FTSE 100 listed food company was bought by US-based Blackstone and PAI Partners of France for £1.6bn in 2006. The owners are believed to be open to the idea of selling UB's snacks division and biscuits unit separately.

The Times notes that UB performed well through the recession. In 2009, its sales rose 5.1 per cent to £1.3bn, and earnings increased 13.7 per cent to £223.4m.

The sale of the group, which has 11 factories in the UK and 4 in Europe, could begin in the autumn and conclude early next year, reports The Independent.

The report also suggests that Kraft is a possible bidder, following its acquisition of Cadbury earlier this year. But the American food company's increased ownership of British food brands could re-ignite the controversy over the Cadbury takeover.