KP Snacks, the company that makes KP Nuts, McCoy's Crisps and Hula Hoops has been sold to a German firm called Intersnack, owner of Pom-Bear crisps and Penn State pretzels.

The company, which employs around 1,500 people, was sold by United Biscuits, which owns McVitie's, for a £500m, according to reports. The deal is predicted to be completed next year.

Intersnack is a privately owned company, and employs 6,000. United Biscuits will hold on to the Mini Cheddars and Twiglets brands.