Houlihan Lokey Advises Ferrero (4)
Houlihan Lokey’s Consumer, Food & Retail Group is pleased to announce that a Ferrero-related company has acquired Burton’s Biscuit Company (Burton’s) from Ontario Teachers’ Pension Plan Board (OTPP). The transaction closed 22 June 2021.
Burton’s employs approximately 2,000 people across six manufacturing locations in the UK and generated sales of more than £275 million during the past 12 months. Burton’s produces some of the best-loved brands in the UK 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, the Ferrero-related company will take over the six production facilities in the UK, which are based in Blackpool, Dorset, Edinburgh, Livingston, Llantarnam, and Isle of Arran.
Through this acquisition, the Ferrero-related company 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 Biscuits.
OTPP 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.
This transaction reinforces Houlihan Lokey’s leading global franchise in the bakery/biscuits industry, following successes involving ARYZTA AG, Millbo, BioNaturals, Fox’s Biscuits, Give & Go, Voortman Bakery, Dolciaria Acquaviva, Tate’s Bake Shop, Diversi Foods, and Nonni’s.
Houlihan Lokey acted as the exclusive financial advisor to Ferrero.
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