£350 million ‘mystery’ bid for Fox’s Biscuits
Friday 27th January 2017
BATLEY-BASED Fox’s Biscuits could be snapped up by a mystery buyer after it was revealed that it is the target of a £350m takeover bid.
The historic Batley firm is currently owned by food group Boparan Holdings who have confirmed that they have received an approach.
Boparan Holdings did not name the potential buyer, but it is reportedly the Burton’s Biscuit Company, which has previously shown interest.
Fox’s Biscuits was established in 1853 and now employs 2,000 people at three sites – Wellington Road in Batley, Uttoxeter in Staffordshire and Kirkham in Lancashire.
As well as Fox’s well-known brands it also produces own-label biscuits for supermarkets.
Present owner Ranjit Boparan took over Fox’s in 2011, when he bought Northern Foods. Fox’s Biscuits is the trading name of Northern Foods Grocery Group.
In a statement to the Luxembourg Stock Exchange Boparan Holdings said it had “received a preliminary approach for Fox’s Biscuits (the trading name of Northern Foods Grocery Group Limited).
“The group’s expectation is that any formal offer for Fox’s Biscuits/NFGG would be at a valuation in the region of £350m.”
There was speculation last year that Burton’s was interested in buying Fox’s Biscuits.
Burton’s employs 2,000 people and lays claim to being the only major food manufacturer in the UK to focus solely on biscuits.comments powered by Disqus