The owners of Jammie Dodgers and Maryland Cookies firm Burton’s Biscuit Co. have started a strategic review of the UK biscuit firm.
Private-equity firms Apollo Management and CIBC have hired advisers from Credit Suisse to help them look at their options for a business they have owned since 2009.
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just-food understands one option could be a sale of Burton’s Biscuit Co., which also manufacturers Wagon Wheels, as well as biscuits under licence for Cadbury. The review is in its early stages and there is no indication of how long the process could take.
Burton’s Biscuit Co. changed its name from Burton’s Foods in November, two years after Apollo and CIBC took over the business from Duke Street Capital in a debt-for-quity swap. Apollo and CIBC had provided financing to Duke Street when it acquired Burton’s in 2007.
Under the ownership of Apollo and CIBC, Burton’s Biscuit Co. has shaken up its manufacturing base and distribution network. It now has three factories and a chocolate refinery in the UK.
