A biscuit company whose Blackpool factory makes some of the nation’s favourite sweet treats has announced it is looking for a new owner.
The owners of Burton’s Biscuits - which has a factory on Devonshire Road and makes Wagon Wheels, Maryland Cookies and Jammie Dodgers, as well as Cadbury biscuits under licence – has confirmed a process is in place to find a buyer.
However, The Gazette understands no jobs will be affected by the announcement.
A spokesperson for the company said: “We 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 company is currently the second biggest biscuit manufacturer in the United Kingdom, having made a profit of £342m last year.
Its owners, Apollo Global Management and Canadian Imperial Bank of Commerce, have owned Burton’s since 2009 after a debt-for-equity swap with Duke Street Capital.
An information memorandum is due to be sent out early next week and potential bidders have been asked to sign non-disclosure agreements.
In April this year the company the company made an investment of £13.5m to boost production, some of which was put into the Devonshire Road site.
Coun Ivan Taylor, who represents the North Shore ward of Claremont, where the factory is based, said: “It is doing well and I think that is down to the business itself, but also the good workforce that they’ve got there.
“It is essential that businesses like that are developed and the owners will do what they want, but any proposal to reduce the output or any way affect the workforce would be very strenuously resisted because it’s a crucial part of our economy and local structure.
“It worries me to some degree when I hear this kind of thing but I know the business is doing well and that’s the main thing.”