Mon, 02 Sep 2013 | MBO/MBI
Jammie Dodgers maker Burton’s Biscuits Company is facing a sale, by way of a management buyout.
While it is business as usual for the 2,000-staff firm, a sale process will begin shortly, a spokesman confirmed. The biscuit producer is expected to command between £300 million and £350 million in a sale.
Chief executive Ben Clarke is leading a senior management team in the takeover bid for Burton's, one of the UK’s largest biscuit manufacturers.
The factories at Llantarnam in Torfaen, Edinburgh and Blackpool, Lancashire would change hands if a sale goes ahead.
Burton’s has had a significant input of £4.6 million for investment in its operations at Llantarnam, which dates back to 1937, with beginnings stretching further back to the mid-1800s.
A total of £13.5 million is being plugged into its factories and its chocolate refinery at Moreton in Merseyside. New control room baking systems are to be trialled at the site.
Burton’s has been owned by its lenders - US private equity firm Apollo Global Management and Canadian bank CIBC - since 2009, when they took over in a debt-for-equity swap from its previous debt-laden owner Duke Street Capital.
Burton’s management may have to compete with Cadbury owner Mondelez, who has been given first refusal on a buyout.
Burton’s is behind several well-loved brands including Jammie Dodgers, Cadbury’s Fingers, Maryland cookies and Wagon Wheels.
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Related information:
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Tips on acquisition strategies
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