New acquisition in the UK for Ferrero

New acquisition in the UK for Ferrero. Through Cth, a Belgian holding company affiliated with the group, Ferrero today announced a definitive agreement under which it will acquire Burton’s Biscuit Company (‘Burton’s’) from the Ontario Teachers’ Pension Plan Board (‘ Ontario Teachers’) fund. As part of the transaction, the Ferrero subsidiary will take over six manufacturing facilities in the UK, with offices in Blackpool, Dorset, Edinburgh, Livingston, Llantarnam and the Isle of Arran. Through this acquisition, explains a note, the subsidiary of Ferrero expects to increase the offer of products in the biscuit market, also following the previous acquisitions of Delacre, Kelsen Group and Fox’s. The transaction, subject to the issuance of statutory clearances and customary closing conditions, is expected to be completed in the coming months.Burton’s employs approximately 2,000 people across six UK manufacturing facilities and generated sales of over 275 million. pounds in the past 12 months. Burton’s produces some of the most beloved brands in the British cookie market, including Maryland Cookies, Jammie Dodgers, Wagon Wheels, Paterson’s and Thomas Fudge’s. The company has a long tradition in the UK biscuit market dating back to 1935, with brands well known among consumers.