LONDON (Brand Republic) – A US venture capital firm has snapped up the UK manufacturer of the Wagon Wheel and Jammy Dodger biscuit brands, Burtons Biscuits.
Hicks, Muse, Tate & Furst teamed up with the company’s managing director to buy it from parent group Associated British Foods for an undisclosed sum.
The move comes as the UK biscuit market continues to consolidate. Although Burtons is the market leader in childrens’ brands and strong in supermarket own-label products, it lacked the clout it needed to develop its long-term position in the global biscuit sector.
Hicks, Muse attempted to buy the snackfood arm of United Biscuits last year, but was thwarted by regulatory issues. It already owns Hillsdown Holdings, the UK food group which was broken up in 1999, and includes brands such as Typhoo Tea and Buxted Chicken.
Associated British Foods has been selling off various companies including industrial margarine manufacturers Rowallan Creameries and Anglia Oil. It also owns the Twinings tea and Allinson bread brands.
This article was first published on brandrepublic.com