The maker of Maryland, Jammie Dodgers and Wagon Wheels is to be acquired by part of the Ferrero Rocher group.
A 'Ferrero-related company' has entered into a definitive agreement to acquire Burton’s Biscuit Company from Ontario Teachers’ Pension Plan Board.
Burton’s employs approximately 2,000 people across six manufacturing locations in the UK and generated sales of more than £275m during the last 12 months.
The St Albans-headquartered company produces the likes of Maryland Cookies, Jammie Dodgers, Wagon Wheels, Paterson’s and Thomas Fudge’s and has a history dating back to 1935.
As part of the transaction, the Ferrero-related company, Belgian Holding Company CTH, will take over the six production facilities in UK which are based in Blackpool, Dorset, Edinburgh, Livingston, Llantarnam and Isle of Arran.
Ontario Teachers’ acquired Burton’s in 2013 and helped grow the business through investment across the branded, retailer brand and third-party global brand portfolios, in addition to organic initiatives and bolt-on acquisitions.
Davis Polk & Wardwell, LMS Legal LLP (competition law advisors) and Houlihan Lokey served as legal and financial advisors to the Ferrero-related company.
Kirkland & Ellis and Stamford Partners served as legal and financial advisors to Ontario Teachers’.
The Ontario Teachers’ Pension Plan Board is the administrator of Canada’s largest single-profession pension plan, with C$221.2bn in net assets as of December 31, 2020.
