Ferrero-Related Company’s Acquisition of Burton’s Biscuit Company

Davis Polk advised a Ferrero-related company, while Kirkland & Ellis advised Ontario Teachers’ Pension Plan on the deal. Macfarlanes advised the management team of Burton’s Biscuits.

A Ferrero-related company executed its acquisition of Burton’s Biscuit Company from Ontario Teachers’ Pension Plan Board. Burton’s Biscuit Company generated sales of more than £275 million during the last 12 months. Through this acquisition, the Ferrero-related company expects to broaden its product offering in the sweet biscuits market, further to the previous acquisitions of Biscuits Delacre, Kelsen Group and Fox’s.

The Ontario Teachers’ Pension Plan Board is the administrator of Canada’s largest single-profession pension plan, with C$221.2 billion in net assets.

Founded as a family business in Alba, Italy in 1946, the Ferrero Group is a company in the global chocolate confectionary market, with brands that include Nutella, Kinder, Ferrero Rocher and Tic Tac.

Burton’s Biscuit Company is a United Kingdom leading biscuit manufacturer which supplies both quality branded and retailer brand biscuits. It owns and bakes brands such as Maryland, Jammie Dodgers and Wagon Wheels and also bakes biscuits for major retailers and global brands. Headquartered in St. Albans, United Kingdom, Burton’s operates manufacturing sites in Blackpool, Edinburgh, Llantarnam, Livingston, Dorset and Isle of Arran, employing approximately 2,000 people. The Ontario Teachers’ Pension Plan Board, headquartered in Toronto, Canada, is the administrator of Canada’s largest single-profession pension plan, with C$221.2 billion in net assets as of December 31, 2020.

The Davis Polk corporate team included partner Will Pearce (Picture), counsel William Tong and associate Charlie Burrell. The tax team included partner Jonathan Cooklin, counsel Dominic Foulkes and associate Freddie Schwier. Partner Frank J. Azzopardi and associate S. Dream Montgomery provided intellectual property advice.

The Kirkland team was led by corporate partners Roger Johnson, Carlos Gil Rivas and Adrian Duncan with associates Amelia Rolfe, Jamie Gordon and Steven Hunter.

The Macfarlanes team for this matter was led by corporate and M&A partner Jessica Adam with assistance from solicitor Tom Trotter.

Involved fees earner: Frank Azzopardi – Davis Polk & Wardwell; Charlie Burrell – Davis Polk & Wardwell; Jonathan Cooklin – Davis Polk & Wardwell; Dominic Foulkes – Davis Polk & Wardwell; S. Dream Montgomery – Davis Polk & Wardwell; Will Pearce – Davis Polk & Wardwell; Freddie Schwier – Davis Polk & Wardwell; William Tong – Davis Polk & Wardwell; Adrian Duncan – Kirkland & Ellis; Carlos Gil Rivas – Kirkland & Ellis; Jamie Gordon – Kirkland & Ellis; Steven Hunter – Kirkland & Ellis; Roger Johnson – Kirkland & Ellis; Amelia Rolfe – Kirkland & Ellis; Jessica Adam – Macfarlanes LLP; Tom Trotter – Macfarlanes LLP;

Law Firms: Davis Polk & Wardwell; Kirkland & Ellis; Macfarlanes LLP;

Clients: Burton’s Biscuit; Ferrero; Ontario Teachers’ Pension Plan Board;

Author: Federica Tiefenthaler