Burton’s in early stage talks to buy Fox’s Biscuits

Fox’s Biscuits is considering selling itself to its rival Burton’s, which is owned by Ontario Teachers’ Pension Plan.

Fox’s Biscuits, based in Batley, England, is in the early stages of fixing the deal with Burton’s, Reuters reported.

The sale, advised by Rothschild, is likely to value the biscuits company at $486m.

Burton’s, which manufactures biscuits such as Wagon Wheels, Maryland cookies and Jammie Dodgers, has long been considered an eligible buyer for Fox’s Biscuits.

Prior to this, Burton’s lost a deal to acquire United Biscuits to Turkish firm Yildiz Holding, owner of Ulker Biskuvi.

Blackstone and PAI sold United Biscuits to Yildiz Holding for $2.85bn in 2014, reported Reuters.

The Fox’s Biscuits Company opened in 1853 and is owned by 2 Sisters, a food group based in the UK that has holdings in Goodfella’s Pizza.

Fox’s, the maker of Party Rings biscuits, has manufactured approximately 1.45 billion biscuits since its commencement.

In 2013, Ontario Teachers’ Pension Plan acquired Burton’s and have been trying to expand the business organically, as well as through acquisitions.

It is also exploring ways to diversify the business by introducing healthier snacks and different savouries, as well as revamping Burton’s Daily Fish ‘n’ Chips.

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Image: Fox’s Biscuits is in early stage talks with Burton’s to sell itself. Photo: courtesy of Geoff Marshall/Wikipedia.