French food and dairy group Danone has confirmed that it is planning to sell its Irish and British biscuit operations.
A statement from Irish Biscuits said the sale talks were at an advanced stage and a further announcement would be made when they had concluded.
Irish Biscuits, the company behind the Jacob's brand, employs more than 400 people in Tallaght in Dublin. In 2001 the company cut staff numbers in Tallaght by 100 through voluntary redundancy and early retirement.
Reports earlier this week suggested that companies in the running to buy the business included United Biscuits and private equity group Hicks, Muse, Tate and Furst.
The move was confirmed in the company's first-half results statement, which included a €100m charge related to the sale of the Irish and British biscuit operations.
Danone reported net profits of €436m, up 8% on the same period a year earlier.
