Mon, 18 Nov 2013 | BUSINESS SALE
Burton's Biscuits, the manufacturer behind brands including Jammie Dodgers and Wagon Wheels, is finalising a sale of its business to a Canadian pension fund.
Sky News has learnt that the business was due to confirm the sale over the weekend. Ontario Teachers' Pension Plan is thought to have been the favourite bidder but sources told the news provider that a last-minute offer was also a possibility. Ontario Teachers' Pension Plan was up against three other companies who tabled final offers for Burton's on Friday.
The business sale is yet to be confirmed today but a deal of around £350 million is expected.
Burton's was founded by George Burton back in the mid-1800s. Since then it has built itself up to become the second-largest biscuit manufacturer in the UK by sales, falling just behind United Biscuits.
The company has three manufacturing facilities based in Llantarnam, Blackpool and Edinburgh. It also owns a chocolate refinery in Moreton and a central distribution hub in Liverpool. It employs over 2,200 people across these sections of its business.
If Ontario Teachers is successful, Burton's Biscuits will become the latest in a string of British acquisitions for the business. The firm has already taken over the National Lottery operator, Camelot, and nursery chain Busy Bees.
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