Ontario Teachers wins bid to acquire Burton's from Apollo and CIBC

Teachers' Private Capital, the private equity investment division of Ontario Teachers' Pension Plan, has agreed to acquire for an undisclosed price Burton's Biscuit Co, a biscuits and snacks manufacturer based in St. Albans, United Kingdom. The transaction concludes a competitive bidding process begun by Canadian Imperial Bank of Commerce and U.S. private equity firm Apollo Global Management, the company's majority owners since 2009. The deal's closing, which will see Burton's management retain a significant minority stake in the business, is expected to take place before the end of November.

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