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Crunch time at Wagon Wheels firm Crunch time at Wagon Wheels firm
(40 minutes later)
The company that makes Jammie Dodgers and Wagon Wheels biscuits could be about to hitch itself to a new owner, according to a newspaper report.The company that makes Jammie Dodgers and Wagon Wheels biscuits could be about to hitch itself to a new owner, according to a newspaper report.
The Daily Telegraph says that the US private equity group that owns Burton's Foods is looking to sell the firm.The Daily Telegraph says that the US private equity group that owns Burton's Foods is looking to sell the firm.
The report said that the UK's second biggest biscuit maker could be worth up to £300m.The report said that the UK's second biggest biscuit maker could be worth up to £300m.
Burton's employs 3,000 people in the UK, where it also bakes chocolate biscuits under licence for Cadbury's.Burton's employs 3,000 people in the UK, where it also bakes chocolate biscuits under licence for Cadbury's.
United Biscuits saleUnited Biscuits sale
It has factories in Edinburgh, Blackpool, Moreton and Llantarnam, a distribution centre in Knowsley and a head office in St Albans.It has factories in Edinburgh, Blackpool, Moreton and Llantarnam, a distribution centre in Knowsley and a head office in St Albans.
Private equity firm Hicks, Muse, Tate and Furst bought Burton's from Associated British Foods in 2000 for £130m.Private equity firm Hicks, Muse, Tate and Furst bought Burton's from Associated British Foods in 2000 for £130m.
A spokesman for the biscuit baker told the Daily Telegraph: "Our business and our brands are performing well, and the board is looking at options for the future development of the business. "Our business and our brands are performing well, and the board is looking at options for the future development of the business," Burton's said in a statement.
"This may involve securing further investment, to execute management's exciting plans to take the company forward."This may involve securing further investment, to execute management's exciting plans to take the company forward.
"We will confirm when and if the board and the company's shareholders decide to sell.""We will confirm when and if the board and the company's shareholders decide to sell."
Last month, United Biscuits, which owns the McVitie's and Jacob's brands, was sold to private equity groups Blackstone and PAI Partners in a deal worth £1.6bn ($3bn).Last month, United Biscuits, which owns the McVitie's and Jacob's brands, was sold to private equity groups Blackstone and PAI Partners in a deal worth £1.6bn ($3bn).