Northern Foods drops out of auction for Burtons Foods
Published February 14th, 2007
Fox’s Biscuits owner Northern Foods said today it was out of the auction for Burton’s Foods – the firm behind Wagon Wheels and Maryland Cookies.
Private equity group Hicks, Muse, Tate and Furst is currently considering its options for Burton’s, which employs 3,000 people and has four UK bakeries.
Northern is believed to have been up against a group of venture capital bidders - including Duke Street Capital and 3i – in an auction process expected to fetch more than £200m (€298m).
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