Merrill DataSite Releases New Comments: Canadian Pension Fund Makes Another Major UK Acquisition

http://www.datasite.com -- Ontario Teachers' Pension Plan (Teachers') has recently made a string of UK acquisitions, just recently making its second major UK-based acquisition in less than a month, with the £350 million purchase of Burton's Biscuit Company from private equity owners Apollo Global Management and the Canadian Imperial Bank of Commerce.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friendRepost This

Merrill DataSite

Canadian pension fund makes another major UK acquisition

New York, US (PRWEB) December 06, 2013

Read the full article here: http://bit.ly/1beXHuR

Ontario Teachers' Pension Plan (Teachers') has recently made a string of UK acquisitions, just recently making its second major UK-based acquisition in less than a month, with the £350 million purchase of Burton's Biscuit Company from private equity owners Apollo Global Management and the Canadian Imperial Bank of Commerce.

This highlights a trend that has marked out pension funds as serious players in consumer goods' sector acquisitions.

Burton's Biscuit Company, based in St Albans, Hertfordshire– which counts Wagon Wheels and Jammie Dodgers amongst its top-selling products, as well as Cadbury Fingers and other Cadbury biscuits made under licence – had sales of more than $538 million last year. It is the UK’s second biggest biscuit maker behind United Biscuits.

More than 30 potential buyers were circling the company when it came up for sale, with reports suggesting that Cadbury owner Mondelez International, and Pepperidge Farm biscuits owner Campbell Soup Co. were interested, but the winning bid was eventually made by Teachers' private equity arm. The existing Burtons' management team is to retain a “substantial minority stake” in the business, reports have confirmed.

Head of Teachers' London office, Jo Taylor, told The Guardian newspaper: “With its portfolio of iconic brands, Burton’s is set to lead the premium biscuit market for some time to come and use product innovation to appeal to consumers looking for delicious treats and snacks inside and outside the home."

"We look forward to supporting Burton's outstanding management team to grow the business in the UK and further into overseas markets. There are also many strategic acquisitions to consider in those territories that can enhance these ambitious growth plans," she added.

A few weeks prior to this latest acquisition, Teachers' snapped up the UK-based Busy Bees nursery chain, and is aiming to assist this organization to expand into other markets outside of Britain, just as it hopes to do with Burtons' Biscuits.

About Merrill DataSite

Merrill DataSite is a secure virtual data room (VDR) solution that optimises the due diligence process by providing a highly efficient and secure method for sharing key business information between multiple parties. Merrill DataSite provides unlimited access for users worldwide, as well as real-time activity reports, site-wide search at the document level, enhanced communications through the Q&A feature and superior project management service - all of which help reduce transaction time and expense. Merrill DataSite’s multilingual support staff is available from anywhere in the world, 24/7, and can have your VDR up and running with thousands of pages loaded within 24 hours or less.

With its deep roots in transaction and compliance services, Merrill Corporation has a cultural, organisation-wide discipline in the management and processing of confidential content. Merrill DataSite is the first VDR provider to understand customer and industry needs by earning an ISO/IEC 27001:2005 certificate of registration – the highest standard for information security – and is currently the world’s only VDR certified for operations in the Europe, United States and Asia.

As the leading provider of VDR solutions, Merrill DataSite has empowered more than two million unique visitors to perform electronic due diligence on thousands of transactions totalling trillions of dollars in asset value. Merrill DataSite VDR solution has become an essential tool in an efficient and legally defensible process for completing multiple types of financial transactions.

For more information, please contact Merrill DataSite: Tel: 1-866-399-3770;
Email: info@datasite.com; Web: http://www.datasite.com

Read the full article here:
http://www.datasite.com/canadian-pension-fund-makes-another-major-UK-acquisition124.htm

Follow us on Twitter: @merrilldatasite


Contact

Attachments

Merrill DataSite Merrill DataSite

Merrill Virtual Data Room