Blackpool biscuit maker Burton’s has been sold in a £350m deal.
The company which has its cookie centre in the resort recently announced it was to invest £2m in the production line at the Devonshire Road plant.
Today it has announced its sale to a Canadian pension fund Ontario Teachers Pension Plan which has also recently bought National Lottery operator Camelot and the Busy Bees Nursery chain.
Burton’s chief executive Ben Clarke said: “We are delighted that OTPP will shortly acquire Burton’s Biscuit Company. During this process we have met with over 30 different potential buyers and, as significant co-investors going forward, it was critical for the management team to find the right partner.
“With their combination of extraordinary financial firepower, true partnership approach and global expertise, it is clear to me that OTPP are the ideal partner for us.
“We are very excited about working with Jo Taylor and his team as we pursue our ambitious plans for growth both in the UK and internationally.”
Burton’s makes Maryland, Jammie Dodgers and Wagon Wheels, and manufactures Cadbury biscuits under licence.