2 Sisters Food Group have confirmed the completion of the sale of part of its Fox’s Biscuits business to a Ferrero-related company.
Following their announcement on 7th October that Fox’s had entered into contracts for the sale, the deal completed on Saturday 31st October 2020.
The Ferrero-related Company acquires Fox’s biscuit manufacturing sites at Batley and Kirkham, the sites which primarily produce biscuits sold under the Fox’s brand. 2 Sisters will retain the third site at Uttoxeter which produces own-label biscuits for major retailers.
Fox’s Biscuits is one of Britain’s best loved heritage biscuit brands and a major player in the biscuit sectors in which it operates. It makes household names such as Rocky Bars, Party Rings, Crunch Creams, Crinkle Creams, Chocolatey and Viennese, as well as making own-label biscuits and selection boxes for major retail outlets.
Ranjit Singh, President of Boparan Holdings Ltd, said: “We are pleased this transaction proceeded smoothly and completed as we expected. It is another significant deal, with good enterprise value, underlining our commitment to transforming our business.”
Ronald Kers, CEO of Boparan Holdings Ltd, added: “This sale is further good news as we continue at pace with our turnaround plan. We remain very much on track to meet our strategic aims of focusing on our core businesses and improving our operational performance.”