Private equity investor exits biscuit-maker

Private equity investor LDC has announced its exit from a biscuit manufacturer after the firm was sold to an international food group.

LDC, which is part of Lloyds Banking Group, has exited its investment in Hill Biscuits to Cerealto UK.

Hill Biscuits was founded in 1855 by Sarah and John Hill as a small family run shop.

The business expanded and in 1893 moved into Tudno Mill in Ashton-under-Lyne, Manchester, where its bakery remains.

LDC partnered with Hill Biscuits in 2017 to support its organic growth strategy.

It went on to help the business invest in new technology to improve manufacturing efficiencies and increase capacity, while also investing in people development.

Rob Powell, partner at LDC, added: “Hill Biscuits is a renowned and trusted supplier of quality products and it’s a business that refuses to stand still, achieving impressive rates of growth over recent years. We are proud to have supported the business and we wish the team every success for the future.”