Four private equity firms will bid for Burton’s Biscuits, it has been reported.
Published in The Grocer, Ontario Teachers, Apax, Warburg Pincus and Clayton, Dubilier & Rice are said to be lined up to bid for the company.
Both Warburg Pincus and Ontario Teachers have denied the opportunity to comment on the claims.
It has also been alleged that 2 Sisters Food Group, producer of Fox’s Biscuits, would place a bid for Burton’s.
Burton’s has refused to comment on speculation. A spokesperson said: “Inevitably there will be speculation about the identities of bidders, but we won’t be commenting at this stage.”
The second-round bidding for Burton’s is reported for the second half of November.
The company confirmed that it was on the market in August for around £350m.The announcement followed months of speculation after Credit Suisse was recruited to look at options earlier this year.
The firm 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.”