LDC backs Hill Biscuits MBO

The deal will enable the Bennett family, which originally bought the business out of Rowntree in 1980, to exit Hill Biscuits. It remains unclear at this stage whether LDC secured a majority or minority stake in the business as part of the management buyout.

Yorkshire Bank provided banking facilities for this transaction.

Hill Biscuits now plans to start a multi-million-pound capital investment programme to expand its production capacity and develop new products, LDC said in a statement. The company will also be looking at strategic acquisitions to scale up and diversify its offering, and will also target growth in overseas markets.

This is the third investment in as many months for LDC, which in January backed the £38m management buyout of Fishawack and invested several million pounds in ChargePoint Technology.

Company
Founded as a small shop in Dukinfield, Manchester, in 1855, Hill Biscuits produces 30 million biscuits per week for the retail and food service markets. Its products include digestives, ginger nuts, custard creams, bourbons and malted milks.

Hill Biscuits generates annual sales of £20m.

People
LDC – Simon Braham, John Clarke (investment directors), Ged Gould (senior director).

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