Springboard advise on the sale of Thomas Fudge’s to Burton’s Biscuit Co


Springboard is delighted to announce that it has advised the shareholders of heritage brand Thomas Fudge’s on the sale of the business to Burton’s Biscuit Co.

Thomas Fudges Logo

About the deal

Founded in Dorset in 1916, Thomas Fudge’s supplies premium biscuits, flatbreads and Florentines to major supermarkets and independent retailers across the UK.  Thomas Fudge’s has built a strong market position as an iconic British brand focussed on premium bakery and biscuit products, operating from its own UK based bakery in Dorset.

Livingbridge invested in Thomas Fudge’s in 2016 to support a management buy-out.

Burton’s Biscuit Company is owned by Ontario Teachers’ Pension Plan.  Burton’s is a major UK biscuit manufacturer which owns the Jammie Dodgers, Wagon Wheel and Maryland Cookies brands and employs more than 2,200 people across the UK.

How we made a difference

  • Performed benchmark valuation to assess likely trade appetite;
  • Confidentially approached a small and select number of strategic trade acquirers;
  • Managed a competitive sales process to maximise the terms of exit and ensure a smooth sale of the divisional business; and
  • Project managed due diligence and legal processes.

The client on Springboard

“My team and I are delighted to have completed the sale of our business to Burton’s.  Springboard provided invaluable support and counsel throughout the process.”

Emma Davies, Chief Executive Officer, Thomas Fudge’s


"Springboard promised a partner led service and a professional sales process. They delivered on both counts, provided sound advice throughout the transaction and demonstrated considerable commitment to achieving a successful outcome."
Mike GallacherFirst Milk
“Springboard delivered a professional, partner led service.  They showed a detailed understanding of all aspects of the transaction and worked hard to ensure the expectations of Livingbridge and our fellow shareholders were exceeded.”
Louise KingstonLivingbridge
“We have worked with Springboard since completing the management buy-out in 2008.  They are highly reactive and have been instrumental in developing my business.  I see them as a trusted business partner and would have no hesitation in recommending them”
Chris KisbyEasy Autocentres
"Springboard worked with us to review strategic and funding options. They devised a range of solutions and delivered balanced advice in a professional and good humoured fashion."
Gary BarrArden Fine Foods
"We retained Springboard to manage a professional sale process.  They exceeded our expectations with their detailed, partner-led approach and commitment to delivering the transaction."
David HammondCamden Ventures
"These guys get private equity (having worked for them) and so understand what they are thinking, yet they have great empathy with management.  They were both supportive and challenging for both me and the rest of the management team."
David HollanderAqualisa