Biscuits for sale: Jammie Dodger maker on market
Burton's Biscuit Company officially on offer for a jammy price of £350m
SOME of Britain's best-known biscuits are up for grabs as the company behind the Jammie Dodger and the Wagon Wheel is put up for sale.
Burton's Biscuit Company, which also makes Maryland chocolate chip cookies, has been given a £350m price tag. That's enough to buy 318m packets of its famous raspberry-filled biscuit, according to City AM.
The firm, which employs more than 2,000 people across the UK, has called in Credit Suisse to find a buyer and will issue a memorandum to buyers next week.
It is the second biggest biscuit maker in the UK in terms of sales – the market leader is United Biscuits, owner of McVitie's – and generated £342m in pre-tax profits in 2011. It is jointly owned by the Canadian Imperial Bank of Commerce and private equity groups.
According to The Times, several of the biscuits made by the 75-year-old company have unusual histories. The Jammie Dodger, named after a character in The Beano, Roger the Dodger, is reportedly the favourite snack of TV Time Lord Dr Who.
The Wagon Wheel was a favourite snack of KGB officers. After the collapse of the Soviet Union in 1991, a huge stash of the chocolate-covered snacks was found at the secret police's headquarters in Moscow.
Burton's also makes biscuits for other companies, notably Cadbury Fingers and Cadbury Animals, through a licensing agreement.
A Burton's spokesman reassured Britain's biscuit-lovers: "It is very much business as usual. The management team remains committed to leading the company." ·