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Teachers' enters UK biscuit market

Staff writer ▼ | November 21, 2013
Ontario Teachers' Pension Plan (Teachers') will acquire Burton's Biscuit Company (Burton's), a major player in the UK biscuit market. Closing is expected prior to the end of November.
Burton's Biscuit Company
Burton's Biscuit CompanyOntario Teachers' Pension Plan (Teachers') will acquire Burton's Biscuit Company (Burton's), a major player in the UK biscuit market. Closing is expected prior to the end of November.


The terms of the transaction are not being disclosed and Burton's management will maintain a significant minority stake in the company. The acquisition of Burton's from Canadian Imperial Bank of Commerce (CIBC) and funds managed by affiliates of Apollo Global Management resulted from a competitive bidding process and is being led by Teachers' private equity investment division, Teachers' Private Capital (TPC).

Burton's is the only major biscuit manufacturer in the UK to focus solely on biscuits. The company employs over 2,000 people around the UK, focused in three main manufacturing facilities, with head office in St. Albans. Recent annual sales were more than 340 million pounds. Burton's has some of the best known brands in the UK biscuit market including Cadbury Fingers, Maryland Cookies, Jammie Dodgers, Wagon Wheels and Lyons.

TPC activities include leading deals on a sole or partnered basis, investing in private equity funds in markets and sectors that it cannot efficiently access directly and co-investing with other like-minded private equity funds. TPC manages a global portfolio valued at approximately $12 billion.


 

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