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Crumbs! Fox's Biscuits owner reveals offer received

Fox's Biscuits could be about to be gobbled up after its owner, the food mogul Ranjit Boparan, disclosed that an offer has been received for the company.

The tycoon's holding company Boparan Holdings said that it has received a preliminary approach for the brand, which trades as Northern Foods Grocery Group.

It added that any formal offer would value the biscuit brand "in the region of £350 million", but cautioned that there is "no certainty" that a transaction will proceed.

The name of the bidder was not disclosed.

Mr Boparan's 2 Sisters group acquired Northern Foods, which also houses Goodfella's pizzas, for £342 million in 2011.

The "chicken king", so called because of 2 Sisters' large scale involvement in the poultry trade, has been heavily involved in deal-making over the past twelve months.

Last year he snapped up turkey meat producer Bernard Matthews from private equity group Rutland Partners in a pre-pack administration.

In a similar vein his restaurant arm, which houses Harry Ramsden's fish and chip shop, snapped up Ed's Easy Diner. Giraffe is also a relatively new member of Boparan Restaurant Holdings, having been bought from Tesco for an undisclosed amount back in June.

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