Ferrero-related company has entered into an agreement to acquire part of Fox’s biscuit business from 2 Sister Food group for £246 million.
Fox’s Biscuits is the manufacturer of Rocky Bars, Party Rings, Crunch Creams, as well as private label biscuits.
As part of the deal, the Ferrero-related company will acquire two of the three Fox’s manufacturing facilities at Batley and Kirkham in the UK, while the third facility will remain under 2 Sister’s ownership.
According to sources, this is the second European biscuit business acquired within 12 months by a Ferrero-related company.
Ranjit Singh, president of 2 Sisters parent company, Boparan Holdings, said: “We have listened to many interested parties over the years, but we have always been clear that Fox’s would only be sold to the right new home, at the right time and for the right value. This sale represents another significant deal for us, underlining our commitment to our business turnaround.”
Source: FoodBev Media