Ferrero-related company acquisition of Burton’s Biscuit Company
Davis Polk is advising a Ferrero-related company on its acquisition of Burton’s Biscuit Company from Ontario Teachers’ Pension Plan Board. Burton’s Biscuit Company generated sales of more than £275 million during the last 12 months. Through this acquisition, the Ferrero-related company expects to broaden its product offering in the sweet biscuits market, further to the previous acquisitions of Biscuits Delacre, Kelsen Group and Fox’s.
Founded as a family business in Alba, Italy in 1946, the Ferrero Group is a company in the global chocolate confectionary market, with brands that include Nutella, Kinder, Ferrero Rocher and Tic Tac. Burton’s Biscuit Company is a United Kingdom leading biscuit manufacturer which supplies both quality branded and retailer brand biscuits. It owns and bakes brands such as Maryland, Jammie Dodgers and Wagon Wheels and also bakes biscuits for major retailers and global brands. Headquartered in St. Albans, United Kingdom, Burton’s operates manufacturing sites in Blackpool, Edinburgh, Llantarnam, Livingston, Dorset and Isle of Arran, employing approximately 2,000 people. The Ontario Teachers’ Pension Plan Board, headquartered in Toronto, Canada, is the administrator of Canada’s largest single-profession pension plan, with C$221.2 billion in net assets as of December 31, 2020.
The Davis Polk corporate team includes partner Will Pearce, counsel William Tong and associate Charlie Burrell. The tax team includes partner Jonathan Cooklin, counsel Dominic Foulkes and associate Freddie Schwier. Partner Frank J. Azzopardi and associate S. Dream Montgomery are providing intellectual property advice. Members of the Davis Polk team are based in the London and New York offices.