Jammie Dodger firm Burton's Foods sold for £350m
The firm that makes Jammie Dodgers and Wagon Wheels biscuits has been sold to a Canadian pension fund for £350m.
Burton's Biscuit Company will be owned from next month by Ontario Teachers' Pension Plan, which owns Camelot, the operator of the UK's National Lottery.
The St Albans-based firm is currently owned by a Canadian bank and a private equity firm.
Burton's, which has four manufacturing bases in the UK, said it had 30 "different potential buyers".
"We look forward to supporting Burton's outstanding management team to grow the business in the UK and further into overseas markets," said Jo Taylor, the head of OTPP's London office.
"There are also many strategic acquisitions to consider in those territories that can enhance these ambitious growth plans."
OTPP will acquire Burton's manufacturing sites in Blackpool, Edinburgh and Llantarnam, near Cwmbran in south Wales and its chocolate refinery in Moreton.
Burton's will continue to be led by chief executive Ben Clarke and operate under its existing name from its current head office.