Only Fox's branded biscuit business is expected to be included in the deal, and not Fox's own-label products. If agreed, Ferrero would take charge of around 1,500 Fox's Biscuits employees. Sisters Food Group can confirm the completion of the sale of part of its Fox’s Biscuits business to a Ferrero-related company. 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. ​

In recent years, several businesses have set their sights on acquiring Fox’s Biscuits, as 2 Sisters continued to streamline its core operations to improve performance. In October 2019, it announced the sale of Christmas pudding manufacturer Matthew Walker to Valeo Food group​​ . ​ Browne, formally managing director of Burton’s, will now serve as chief executive of the combined Fox’s Burton’s Companies (FBC) UK.The brand is famous for its television adverts showing pyramids of chocolates on silver trays served up at a mysterious ambassador’s party.

Ayisha Koyenikan, food and drink analyst at the research group Mintel, said Ferrero could use Burton’s as a launchpad for its Nutella brand biscuits in the UK. The biscuits launched in Italy in 2019. “Nutella biscuits have the potential to really shake up the landscape. Ferrero has recently doubled production to increase sales abroad, and so it remains to be seen if a UK launch would be facilitated with imported products or if one of the newly acquired UK factories would be adapted for domestic production,” she said. Bankers Rothschild & Co - previously named as advisers to the auction of Fox’s last year - acted as sole financial adviser to 2 Sisters on the disposal. The company was founded in 1853 in a terraced house, 17 Whitaker Street, in Batley in West Yorkshire by Michael Spedding, who worked from his small bakehouse making "eatables" to sell at feasts and fairs held throughout the north of England. His daughter Hannah provided the name for the company when she married Fred Ellis Fox in the late 1800s. [1] [2] The house in Whitaker Street still stands.Reports had circulated about the potential deal in recent days, with the Italian-founded confectionery firm known to have been actively seeking to expand upon its existing product portfolio. Ronald Kers, CEO of Boparan Holdings Ltd, said: “This sale is in line with our strategy and is further good news as we build on two years of strong turnaround momentum and continue to focus on our core business. It strengthens our liquidity position and reduces our leverage ahead of our planned refinance of the business. Ferrero recently closed Thornton’s remaining 61 high-street stores with the loss of 600 jobs. When Ferrero bought the loss-making business in 2015 it had 242 stores in Britain and Ireland.