Private equity has dominated food industry auctions so far this year, and the sale of Burton’s Biscuit Company is unlikely to be any different.

The company, which makes Jammie Dodgers, Wagon Wheels and Maryland cookies as well as biscuits for Cadbury, is due to issue an information memorandum to potential buyers on Monday.

Burton’s has recovered well since the Canadian Imperial Bank of Commerce and the private equity firm Apollo Global Management took a controlling stake in a debt-equity swap in 2009. In 2011, it made sales of £342m and pre-tax profits of £5.2m.

However, own-label still accounts for about a third of Burton’s turnover, which city sources say is likely to put off trade buyers.

They say Mondelez has already said no, 2 Sisters probably won’t bid despite significant synergy potential with Fox’s, and United Biscuits can’t for regulatory reasons. Meanwhile, big foreign buyers such as Bright Foods are unlikely to be interested in a company of Burton’s size.

The private equity firms that lined up for KP Snacks, such as Pamplona and CapVest, are tipped to dominate the running.

Although Burton’s is vulnerable to volatile input prices and has a somewhat chequered history, there is plenty to attract buyers.

The biggest selling points are the Cadbury licence, which has been a major growth driver for the business, and the management team, especially the CEO Ben Clarke, who is held in high regard in the industry. Sources close to Burton’s say that Clarke – a former Kraft executive – is committed to staying at the company long term.

Other attractions for buyers include the international growth potential, which Clarke has pushed in the past two years – winning listings for Cadbury Fingers in the US, France and Canada and bringing Wagon Wheels back to Russia. Oddly, cowboy themed biscuits once commanded sales of £10m a year in Russia during their heyday in the aftermath of the Cold War.

A buyer could also grow Burton’s through acquisition – by buying up assets such as UB’s Benelux businesses or Fox’s.

As for the mooted £350m price tag, city sources say this is “aspirational”, but far from absurd.