Springboard Advise on the Sale of Thomas Fudge's to The Burton's Biscuit Company
March, 2019 - England
| Founded in Dorset in 1916, Thomas Fudge's supplies premium biscuits, flatbreads and Florentines to major supermarkets and independent retailers across the UK. Thomas Fudge's has built a strong market position as an iconic British brand focussed on premium bakery and biscuit products, operating from its own UK based bakery in Dorset. The brand is synonymous with quality and indulgence. Livingbridge invested in Thomas Fudge's in 2016 to support a management buy-out. Burton's Biscuit Company is owned by Ontario Teachers' Pension Plan. Burton's is a major UK biscuit manufacturer which owns the Jammie Dodgers, Wagon Wheel and Maryland Cookies brands and employs more than 2,200 people across the UK. Burton's CEO Nick Field said "Thomas Fudge's is a great business with a fantastic portfolio of premium products and baking expertise." Partners Ben Bolt, Simon Ward and Manager Jamie Berry advised the shareholders of Thomas Fudge's on the transaction. Ben commented: "We are delighted to have been able to deliver a successful exit for the shareholders to a strategic trade acquirer. Thomas Fudge's is a great UK brand and we wish the team well in their new home." Louise Kingston, Investment Director at Livingbridge, said "Springboard delivered an excellent outcome for all shareholders. Their senior deal team was deeply involved in all aspects of the deal which was delivered to a tight timetable." THE CLIENT ON SPRINGBOARD "My team and I are delighted to have completed the sale of our business to Burton's. Springboard provided invaluable support and counsel throughout the process." - Emma Davies, Chief Executive Officer - Thomas Fudge's ABOUT SPRINGBOARD We are a market leading corporate advisory firm focused on providing strategic, commercial and financial advice and support to a range of clients. We focus exclusively on the following services: • Acquisitions - supporting corporate and management teams – identifying targets and executing deals • Disposals - Full or partial business sales and exits • Raising finance - working capital or development capital – typically debt or private equity/venture capital • Management / Retained advisory - strategic, commercial and financial support If you would like a confidential meeting with one of our Partners to explore how we can help you develop your business please get in touch. |
