2 Sisters Food Group set to offload Fox’s Biscuits in £250m deal
2 Sisters Food Group-owned Fox Biscuits could be on the verge of being sold in a £250m deal.
Sky News says that Italian firm Ferrero is about to announce a takeover deal that will see it snap up its branded biscuits business.
Around 1,500 Fox’s employees will transfer over to the new business, according to reports.
Last year, Ferrero snapped up Denmark’s Kelson Group, while in 2015 the company bought Thorntons for £112m.
Sky News says that Ferrero is being advised by Houlihan Lokey on the deal, with Fox’s current owner, 2 Sisters Food Group, advised by bankers at Rothschild.