LUXEMBOURG — CTH, a Belgian holding company affiliated with the Ferrero Group, has reached an agreement to acquire Burton’s Biscuit Co. from the Ontario Teachers’ Pension Plan Board. Financial terms of the transaction were not disclosed.
Burton’s employs approximately 2,000 people across six manufacturing locations in the United Kingdom and generated sales of more than £275 million during the last 12 months. The company’s brands include Maryland Cookies, Jammie Dodgers, Wagon Wheels, Paterson’s and Thomas Fudge’s.
As part of the transaction, CTH said it will take over Burton’s six production facilities in the United Kingdom, which are based in Blackpool, Dorset, Edinburgh, Livingston, Llantarnam and Isle of Arran. Ontario Teachers’ has owned Burton’s since 2013 and over the past eight years has grown the business through continued investment across the branded, retailer brand and third-party global brand portfolios, in addition to organic initiatives and bolt-on acquisitions.
Ferrero Group is the world’s third largest chocolate and confectionery business, and the company recently has diversified into new sectors as it expands its global portfolio. The company in 2019 acquired the cookie, fruit and fruit-flavored snack, ice cream cone and pie crust businesses from Kellogg Co. The purchase of Fox’s will be the third European biscuit acquisition within the past two years by a Ferrero-related company. In 2019, CTH acquired the Kelsen Group from the Campbell Soup Co. for $300 million. The Kelsen Group is a manufacturer of baked snacks sold under such brands as Kjeldsens and Royal Dansk. In October 2020, CTH acquired part of the Fox’s Biscuits business from 2 Sisters Food Group, which is part of Boparan Holdings Ltd. Fox’s Biscuits primarily produces biscuits sold under the Fox’s brand at the Batley and Kirkham plants, while the Uttoxeter plant primarily makes own-label biscuits for major retailers.