Household staple and Britain’s fourth largest biscuit producer, Fox’s Biscuits could be put up for sale by proprietor Boparan Holdings, according to insiders.
A sale of the UK manufacturer of Golden Crunch and Party Rings biscuits could reportedly be worth up to £250m.
Sources close to the issue revealed that no formal procedures had begun, but owners had reached out to potential buyers.
Investors Boparan Holdings has been working to increase sales at Fox’s Biscuits, which has endeavored to overcome competition.
The news comes after Boparan Holdings reported a difficult period last year, with its 2 Sisters Food Group – co-owners of Fox’s and other brands – recording an 8.2% drop in sales to £3.14bn in the year ending August 1 2015.
Like-for-like (LFL) sales decreased to £3.2bn down 1.7%, with 2 Sisters responding that the biscuit market had been “under pressure for some time due to intense competition”.
Boparan Holdings, owners of frozen fish company Donegal Catch, boasts production of a third of all poultry products eaten in Britain.