Ferrero-related Company announces agreement to acquire Fox's branded and retailer own-brand biscuit business from Northern Food Grocery Group Limited

SINGAPORE,Oct.8,2020 -- CTH,a Ferrero-related Company today announced a definitive agreement pursuant to which it will acquire Fox's branded and retailer own-brand,including M&S,biscuit business from Northern Food Grocery Group Limited (NFGG).

The business being sold generated sales of approximately 157 million Poundsduring the last 12 months.

Based in the UK,NFGG is the maker of fine biscuit brands Fox's and Rocky among other much loved,prestigious brands. The business has a history in the British biscuits' market going back to 1853,with a very strong heritage,brand awareness among consumers and leading positions in every segment of the biscuits' category.

As part of the transaction,the Ferrero-related Company will take over two production facilities in Kirkham and Batley.

Through this acquisition,the Ferrero-related Company expects to increase its relevance in the rich and fine biscuits category,further to the previous acquisitions of Biscuits Delacre and Kelsen Group.

The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the next months.

Fieldfisher and Houlihan Lokey served as legal and financial advisors to the Ferrero-related Company.

About Ferrero Related Company

CTH is a Belgian Holding Company related to the Ferrero Group.

About Northern Food Grocery Group Limited (NFGG)

NFGG is a subsidiary of Boparan Holdings Limited,based in the UK.