Ferrero-related company to acquire Burton’s from Ontario Teachers

Burton's Biscuit Company's portfolio includes household names such as Maryland Cookies, Jammie Dodgers, Wagon Wheels, Paterson’s and Thomas Fudge’s.

Burton's Biscuit Company generated sales of more than £275 million during the last 12 months.

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1 June 2021 | 0

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A Ferrero-related company, CTH, has entered into a definitive agreement to acquire Burton’s Biscuit Company from Ontario Teachers’ Pension Plan Board.

Burton’s employs approximately 2,000 people across six manufacturing locations in the UK and generated sales of more than £275 million during the last 12 months. Burton’s produces some of the best-loved brands in the UK and Irish biscuit market including Maryland Cookies, Jammie Dodgers, Wagon Wheels, Paterson’s and Thomas Fudge’s. The business has a history in the British biscuit market dating back to 1935, with a very strong heritage and brand awareness.

As part of the transaction, CTH, a Belgian holding company, will take over the six production facilities in United Kingdom, which are based in Blackpool, Dorset, Edinburgh, Livingston, Llantarnam and Isle of Arran.

Through this acquisition, CTH expects to enlarge the offer of products in the sweet biscuits market, further to the previous acquisitions of Biscuits Delacre, Kelsen Group and Fox’s.

Ontario Teachers’ acquired Burton’s in 2013 and has helped grow 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. The Ontario Teachers’ Pension Plan Board is the administrator of Canada’s largest single-profession pension plan, with C$221.2 billion in net assets (all figures as of December 31, 2020).

Davis Polk & Wardwell, LMS Legal LLP (competition law advisors) and Houlihan Lokey served as legal and financial advisors to the Ferrero-related company, CTH.

Kirkland & Ellis and Stamford Partners served as legal and financial advisors to Ontario Teachers’.

Currently, the Ferrero Group and its related parties are the third player in the worldwide chocolate confectionery market and the second one in the sweet biscuits market.

 

 

 

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