2 Sisters Food Group has remained silent on reports it is in talks with private-equity firm Clayton, Dubilier & Rice over a deal that would see the two divide Burton’s Biscuit Co. between them.
Burton’s, which manufacturers biscuit brands including Jammie Dodgers and Wagon Wheels, was placed on the block by its private-equity owners in August. The asking price is understood to stand at around GBP350m (US$562.4m).
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According to a Sky News report, CD&R and 2 Sisters are in talks over a potential deal to carve up the business, should CD&R win the ongoing auction process. The report, which did not cite sources, said the companies are yet to reach a definitive agreement and did not state which parts of the business 2 Sisters is eyeing.
A spokesperson for 2 Sisters declined to comment on “rumour and speculation”. CC&R was unavailable for comment at the time of writing.
2 Sisters is currently focused on improving the performance of its biscuits business, which consists of the Fox’s brand as well as own label production.
The company has brought in a new management team under managing director Colin Smith, who previously worked at Muller. The group has also relocated all commercial and marketing teams to a central hub in Birmingham.
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By GlobalDataSignificantly, 2 Sisters has embarked on a period of brand-building activity at its biscuits unit, with a focus on the Fox’s brand. Initiatives have included the introduction of new ranges, such as Fox’s Caffe, and a marketing campaign that has returned Vinny the panda to television. 2 Sisters has also entered into a licence agreement with Premier Foods plc for Hovis Breakfast Bakes and is expanding in new channels, including discounters, as well as in overseas markets such as South Africa.
