The UK second largest biscuit company Burton’s Biscuits has been put up for sale by its private equity owners and could command a £350m ($543m) price tag.
The maker of Wagon Wheel biscuits and Jamie Dodgers is owned by private equity firms Duke Street Capital and Apollo Global Management and the Canadian Imperial Bank of Commerce.
A spokesperson for the company said: “We can confirm that a process for the possible sale of Burton’s Biscuit Company will shortly commence. There is no guarantee a sale will take place, and we will provide an update in due course. 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.”
Burton’s Biscuits, which also makes biscuits for Cadbury, employs over 2,000 people.
It appointed Credit Suisse to conduct a strategic review and decided selling the company was the best course of action.