FACTORY TO SURVIVE £246M FOX’S SALE

Part of biscuits group sold to chocolate giant Ferrero

STAFFORDSHIRE’S biggest biscuit factory will not be offloaded as part of a multimillion pound deal which will see part of Fox’s sold to chocolate giant Ferrero.

2 Sisters Food Group – which owns the biscuit manufacturer – has agreed to sell part of the business to a Ferrero-related company for £246 million.

The deal will see Ferrero acquire Fox’s Biscuits manufacturing sites in West Yorkshire and Preston.

However, Birminghambased 2 Sisters will retain ownership of the Uttoxeter factory, which produces own-label biscuits for major retailers.

The sale is expected to be formally completed at the end of the month.

Ranjit Singh, President of Boparan Holdings Ltd – the parent company of 2 Sisters Food Group – said: “Fox’s Biscuits has always been an attractive brand, and as one of only two major independent biscuit makers in the UK, it is a prized asset in this market.

“We have listened to many interested parties over the years, but we have always been clear that Fox’s would only be sold to the right new home, at the right time and for the right value.

“I wish all colleagues at the two Fox’s Biscuits sites every future success with an ambitious new owner.”

Ronald Kers, CEO of Boparan Holdings Ltd, added: “This sale is in line with our strategy and is further good news as we build on two years of strong turnaround momentum and continue to focus on our core business.

“We believe the sale to Ferrero is not only beneficial for 2 Sisters Food Group, but it means a positive future for the Fox’s brand with an owner who has a compatible culture and a global reputation for highquality branded chocolate and biscuit products.”