BRITAIN’S second largest biscuit maker has been put up for sale, with an estimated pricetag of £350m – enough to buy 318m packets of its famous Jammie Dodgers.
Burton’s Biscuit Company, which also owns Wagon Wheels and makes biscuits for Cadbury’s, plans to issue an information memorandum to prospective buyers next week.
“We can confirm that a process for the possible sale of Burton’s Biscuit Company will shortly commence,” the firm said yesterday.
“There is no guarantee a sale will take place, and we will provide an update in due course. It is very much business as usual.”
In 2009, Burton’s lenders Apollo Management and CIBC, the Canadian bank, took control of the group in a painful debt-for-equity swap that left its previous owner Duke Street Capital nursing heavy losses.
The firms have since focused on growing its core brands and revamping its three factories in preparation for a sale. They hired Credit Suisse in March to explore options for the business.