The owners of UK-based biscuit manufacturer Burton's Biscuits are set to commence the sale of the company, which is valued at £350m.
Burton's is owned by private equity groups Apollo Global Management and Duke Street Capital, and the Canadian Imperial Bank of Commerce. This move comes after Burton's Biscuits hired Credit Suisse earlier this year to conduct a strategic review.
The sale would include its factories at Llantarnam in Torfaen, Edinburgh and Blackpool, Lancashire. A successful deal would put the company's 2000 workers under new management.
The company, however, said that the sale was possible, but not guaranteed.
Burton's Biscuits spokesman said that the company 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. The management team remains committed to leading the company and is focused on delivering its strategy to grow the business," the spokesman added.
Burton's Biscuits offers leading including Wagon Wheels, Cadbury's Fingers and Jammie Dodgers. It also produces Cadbury's biscuits under a licensing agreement, as well as Cadbury fingers and Cadbury Animals, along with the Maryland cookie brand. It reported sales of £342m in 2011 and pretax profits of £5.2m.
