On 1st June it was announced that Ferrero has agreed to acquire Burton’s Biscuits Company, one of the UK’s largest independent biscuits manufacturer.
Burton’s produces some of the best-loved brands in the UK biscuit market including Maryland Cookies, Jammie Dodgers, Wagon Wheels, Paterson’s and Thomas Fudge’s as well as baking high-quality biscuits for major retailers and global brand partners. The business has a history in the British biscuit market dating back to 1935, with a very strong heritage and brand awareness. Burton’s employs approximately 2,000 people across six manufacturing locations in the UK and generated sales of more than £275 million during the last 12 months.
Through this acquisition, Ferrero expects to enlarge the offer of products in the sweet biscuits market, further to the previous acquisitions of Biscuits Delacre, Kelsen Group and Fox’s.
Ontario Teachers’ invested in Burton’s in 2013 and has helped grow the business through continued investment across the branded, retailer brand and third-party global brand portfolios, in addition to organic initiatives and bolt-on acquisitions.
“We are proud to have supported Burton’s and overseen the significant growth of this leading UK biscuit manufacturer. Since our investment, Burton’s has implemented key organic growth initiatives and completed a number of strategic acquisitions to further strengthen its portfolio and manufacturing capability. Today, and in future as part of the Ferrero family, the company is well positioned for success, with its iconic brands, strong retail relationships and high-quality manufacturing operation,” said Nick Jansa, Senior Managing Director for Europe, the Middle East and Africa for Ontario Teachers’.
“Ontario Teachers’ has been an excellent partner for Burton’s, and we thank them for their continued support over the past eight years. Their industry expertise, operational experience, and approach to value creation has helped us accelerate our growth plans – both organically and through strategic acquisitions,” said Nick Field, CEO of Burton’s.
“We are delighted to be joining the Ferrero organisation, and look forward to bringing together the businesses’ complementary brand portfolios, high quality capabilities, management talents and highly skilled workforces which offer a compelling strategic rationale and an exciting future for Burton’s.”
Stamford Partners acted as exclusive financial adviser to Burton’s and Ontario Teachers’ Pension Plan on this transaction. Financial terms were not disclosed.