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Ontario Teachers' Pension Plan says has agreed to buy Burton's Biscuits

Reuters - UK Focus

LONDON, Nov 18 (Reuters) - Ontario Teachers' Pension Plan said on Monday that it has agreed to buy Burton's Biscuit Co from Canadian Imperial Bank of Commerce (NYSE: CM - news) (CIBC) and affiliates of Apollo Global Management, giving it a foothold in Britain's biscuit market.

Terms of the deal were not disclosed. It is expected to close before the end of November.

The management of Burton's will maintain a "significant minority stake" in the company, which has annual sales of more than 340 million pounds ($547 million) from products including Cadbury Fingers, Jammie Dodgers and Wagon Wheels.