PE backers looking to divest Burton’s Biscuits

The company has confirmed to various media outlets that the process is in place, but that there is no guarantee that a sale will definitely come to fruition. Credit Suisse was hired in March to oversee a strategic review of the business.

Duke Street acquired Burton's in 2007 for an estimated £210m from Lion Capital, which had bought the business in 2000 for approximately £434m, according to unquote" data. However in 2009, a debt-for-equity swap following a debt restructuring of the company left Duke Street with just a minority stake. The Canadian Imperial Bank of Commerce and Apollo Global Management took control of a majority stake in the business.

Burton's was founded in 1935 and is headquartered in St Albans, Hertfordshire. The company employs 2,200 staff and recorded turnover of £341.9m in 2011, as well as an operating profit of £20.8m.

Burton's owns biscuit brands Jammy Dodgers, Wagon Wheels and Maryland Cookies, as well as making biscuits for certain Cadbury products.

A spokesperson for Duke Street was unable to offer any additional information. Apollo declined to comment.

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