Biscuit makers in Blackpool have been told it is businesses as usual as rumours of a management buy-out of the firm circulate.
Burton’s which makes Jammie Dodgers and Wagon Wheels, has been given a potential price tag of £350m brought in Credit Suisse earlier this year to do a strategic review of the business.
It is the UK’s second biggest biscuit maker after United Biscuits and mad a pre-tax profit of £5.2m in 2011.
It is understood that the current management team are keen to stay involved and have put together a plan which builds on the new investment at its three sites including Blackpool. A spokesman for the company said today: “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 focussed on delivering its strategy to grow the business.”
It has been reported that a raft of private equity firms are hoping to back any management buyout but the management may face bid competition from Cadbury owner Mondelez for whom it makes Fingers.