Fox’s biscuits has been sold to the Italian Nutella and Kinder chocolate firm Ferrero for £246m.
Fox’s Biscuits has annual sales of around £157m and is best known for biscuit brands such as Rocky Bars, Party Rings, Crunch Creams, Crinkle Creams, Chocolatey and Viennese.
Ranjit Singh Boparan, president of 2 Sisters owner Boparan Holdings 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.
“This sale represents another significant deal for us, underlining our commitment to our business turnaround.”