By Freya Berry
LONDON, Feb 17 (Reuters) - The owners of Britain's Fox's
Biscuits are in early stage talks to sell the business to rival
biscuit maker Burton's, owned by Ontario Teachers' Pension Plan,
two sources familiar with the matter said on Wednesday.
Fox's, maker of Party Rings biscuits, dates back to 1853.
The sale is being advised by Rothschild and could value the
company at around 340 million pounds ($486 million), the people
said, noting that the talks were at an early stage and no deal
is certain.
Fox's is owned by UK food group 2 Sisters, whose holdings
include Goodfella's Pizza.
Ontario Teachers, 2 Sisters and Rothschild declined to
comment.
Burton's, which makes Maryland cookies, Wagon Wheels and
Jammie Dodgers, is about as old as Fox's and has long been
rumoured as a suitor for the Party Rings manufacturer,
especially after losing out to Turkish food group Yildiz
Holding, owner of Ulker Biskuvi ULKER.IS , for United Biscuits.
That business was sold by Blackstone (N:BX) BX.N and PAI for more
than 2 billion pounds ($2.85 billion) in 2014.
Snacks businesses have long been favoured by private equity.
Ontario Teachers bought Burton's Biscuit Company in 2013 and has
been exploring ways to grow the business, organically and
through acquisitions.
Ontario Teachers has also explored diversifying the
business, introducing savoury, slightly healthier snacks
including the revival of Burton's Daily Fish 'n' Chips.
Fox's Biscuits has made around 1,450 billion biscuits since
it began, according to 2 Sisters' website.
($1 = 0.7007 pounds)