Food manufacturer Burton’s Biscuits has been put up for sale with a price tag of £350m.
Burton’s Biscuits employs around 2000 people in the UK and has manufacturing sites in Llantarnam, South Wales as well as Edinburgh and Blackpool.
All three sites have seen significant investment in recent years, with Llantarnam chosen to pilot an £800,000 control room and advanced production monitoring equipment, thought to be the first of its kind in a food manufacturing facility in the UK.
This investment was made as part of a £13.5m investment spree for 2013.
The decision to sell up comes after Burton’s hired Credit Suisse to conduct a strategic review of its opportunities earlier this year.
Burton’s is the second largest biscuit manufacturer in the UK and makes Wagon Wheels and Jammie Dodgers among other sweet snack items. It also holds the global licence for Cadbury’s chocolate biscuits. The company achieved a nine per cent profit growth in 2012 and has been growing strongly since 2005. Between 2005 and 2010, it expanded by 20%.
While a Burton’s spokesperson confirmed that the sales process will now go ahead they also said that: “There is no guarantee a sale will take place, and we will provide an update in due course.”
The firm claims that “It is very much business as usual. The management team remains committed to leading the company and is focused on delivering its strategy to grow the business.”