The owners of Burton’s Biscuit Co. have declined to comment on reports that the firm has been approached by Cadbury owner Mondelez International in a move to buy the license to produce biscuits under the Cadbury brand.
Reports in the UK media today (21 July) claimed that Mondelez is in talks to acquire the licence for Cadbury in a deal said to worth up to GBP200m (US$263m).
However, a spokesperson for Burton’s majority owner, the Ontario Teachers’ Pension Plan (OTTP), told just-food that the firm would not comment on market speculation.
The reports follow suggestions made last March that Burton’s was closing in on a takeover of Boparan Holdings-owned biscuit brand Fox’s in a deal that could see the company sell off its Cadbury licence.
When OTPP took control of Burton’s in 2013, the group signalled its willingness to expand the UK biscuit maker via M&A. The firm missed out on acquiring United Biscuits last year, when the UK’s largest biscuit maker was sold to Turkey’s Yildiz Holding.
Mondelez International did not respond to requests for comment at time of press.