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63 About this deal
Through this acquisition, and our two previous acquisitions of Biscuits Delacre and Kelsen Group, we expect to increase our relevance in the rich and fine biscuits category.” Fox’s is a very high quality business, but it has never really been a fit for 2 Sisters and hopefully they have achieved the right sort of price, some of which will need to go into the Northern Foods Pension Scheme,” Wild told Food Manufacture. Ayisha Koyenikan, food and drink analyst at the research group Mintel, said Ferrero could use Burton’s as a launchpad for its Nutella brand biscuits in the UK. The biscuits launched in Italy in 2019. “Nutella biscuits have the potential to really shake up the landscape. Ferrero has recently doubled production to increase sales abroad, and so it remains to be seen if a UK launch would be facilitated with imported products or if one of the newly acquired UK factories would be adapted for domestic production,” she said. I really hope it works out well for a very good business – Ferrero have not had an easy time with Thornton’s, but seem like a nice company.”
May 2022 - 10:01 GMT I've been unable to find Fox's Chocolate Crunch biscuits anywhere. You can still their Golden Crunch and a Ltd Edn Chocolate Orange...but no chocolate. What's going on Fox's?? Following our announcement on 7 thOctober that Fox’s had entered into contracts for the sale, the deal completed on Saturday 31 stOctober 2020. A possible announcement over a deal comes more than three years after 2 Sisters first disclosed it had been approached over Fox's Biscuits by a mystery buyer, believed to be Burton's Biscuits. A deal between the pair, however, failed to materialise. In recent years, several businesses have set their sights on acquiring Fox’s Biscuits, as 2 Sisters continued to streamline its core operations to improve performance. In October 2019, it announced the sale of Christmas pudding manufacturer Matthew Walker to Valeo Food group . Ranjit Singh, President of Boparan Holdings Ltd, said: “Fox’s Biscuits has always been an attractive brand and as one of only two major independent biscuit makers in the UK, it is a prized asset in this market.
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The brand is famous for its television adverts showing pyramids of chocolates on silver trays served up at a mysterious ambassador’s party. Browne, formally managing director of Burton’s, will now serve as chief executive of the combined Fox’s Burton’s Companies (FBC) UK. We believe the sale to Ferrero is not only beneficial for 2 Sisters Food Group, but it means a positive future for the Fox’s brand with an owner who has a compatible culture and a global reputation for high-quality branded chocolate and biscuit products.”
However, the merger will raise fears of consolidation with Fox’s facilities in Batley in Yorkshire, and Kirkham in Lancashire.Current owner 2 Sisters Food Group called for bids to be submitted last week. Rothschild has been overseeing the auction. The latest auction had been taking place as 2 Sisters's parent Boparan Holdings looked to reduce its large debt pile. The deal, which will be completed this month, reportedly makes Ferrero Group the second largest chocolate and confectionery business in the worldwide sweet biscuit market, having made another similar acquisition in Europe earlier this year. Ferrero Group claims to be the world’s third largest chocolate and confectionery business which has diversified into new sectors as it expands its global portfolio. Ferrero and its related company represents now the second player in worldwide sweet biscuits market.
As part of the integration, the FBC Leadership Team will now be undertaking a strategic review which will determine the details behind the transition. Ronald Kers, CEO of Boparan Holdings Ltd, said: “This sale is in line with our strategy and is further good news as we build on two years of strong turnaround momentum and continue to focus on our core business. It strengthens our liquidity position and reduces our leverage ahead of our planned refinance of the business. In November the same year reports surfaced that 2 Sisters were to launch a formal auction of Fox’s, to be overseen Rothschild. Only Fox's branded biscuit business is expected to be included in the deal, and not Fox's own-label products. If agreed, Ferrero would take charge of around 1,500 Fox's Biscuits employees. Bankers Rothschild & Co - previously named as advisers to the auction of Fox’s last year - acted as sole financial adviser to 2 Sisters on the disposal.We have listened to many interested parties over the years, but we have always been clear that Fox’s would only be sold to the right new home, at the right time and for the right value. This sale represents another significant deal for us, underlining our commitment to our business turnaround. Ranjit Singh, president of 2 Sisters parent firm Boparan Holdings Ltd, said: “Fox’s Biscuits has always been an attractive brand and as one of only two major independent biscuit makers in the UK, it is a prized asset in this market.
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