Private equity group Duke Street Capital has acquired the UK’s second largest biscuit manufacturer Burton’s Foods from fellow private equity firm Hicks, Muse, Tate & Furst, a spokesperson for the company told just-food today (19 March). The group has signalled its intention to expand beyond its core biscuits business into other snacking categories.
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The maker of Wagon Wheels, Jammie Dodgers and Maryland Cookies was snapped up in a deal valued at about GBP200m (US$388m). Financial details of the acquisition were not disclosed.
Along with its braded biscuits business, Burton’s Foods also bakes and sells under license a wide range of Cadbury chocolate biscuits, including Cadbury Fingers and Cadbury Chocolate Digestives, and produces own-label goods for supermarkets.
DSC will work with existing management to drive the future growth of the group. The biscuit manufacturer’s new owner is looking to continue Burton’s organic growth and expand the business through acquisitions, DSC said.
The purchase will allow Burton’s to expand in non-biscuit snacking categories, Burton’s CEO Paul Kitchener said today (19 March) in an e-mailed statement.
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By GlobalData“Burton’s already has a leading position in its market with its portfolio of strong brands. We look forward to working with Duke Street and are sure that with its financial and operational support, the business will be well placed to accelerate its growth plans and further advance its position in the broader snacking market,” he commented.
