That takes the biscuit – Ferrerro buys Burton’s Biscuits
Biscuit favourites Burton’s Wagon Wheels, Jammie Dodgers and Maryland Cookies have a new owner.
Ferrero SpA, the Italian chocolatier, has agreed to buy biscuit maker Burton’s Biscuit Co. from Ontario Teachers’ Pension Plan Board.As part of the deal, the Ferrero-related company will take over six production facilities in the UK. Financial details were not disclosed.
Valuation
Ontario Teachers had been discussing a valuation of about 300 million pounds (just under 349m euro) for the business. It bought Burton’s in 2013.
Burton’s manufactures popular biscuit brands including Maryland Cookies, Jammie Dodgers and Wagon Wheels. The company employs about 2,000 people in the U.K. and generated more than 275 million pounds of revenue during the last 12 months, according to Tuesday’s statement.
