Tangerine, the Blackpool-based confectionery firm, has completed the acquisition of Monkhill Confectionery the maker of many famous name brands including Butterkist popcorn, Barratt Sherbet Fountains, Sharp's toffees, Lion gums and Jameson's Ruffle bar.
The company was acquired from Cadbury Schweppes for 58 million in cash and the deal creates one of Europees biggest sugar confectionery businesses. The combined business has a turnover approaching 150m and employs over 1,500 people at factories in Liverpool, Poole, York, Pontefract, Cleckheaton and two sites in Blackpool, plus a distribution centre near Chesterfield.
Tangerine already makes a range of branded boiled sweets, gums, jellies, marshmallows, fudge, peppermints, fruit creams and toffee, including children’s classic MOJO chews, market-leading Princess Marshmallows and traditional style favourites Taveners.
Tangerine chairman Steven Joseph said: Acquiring such famous brands is a fantastic prospect. Tangerine has grown rapidly from a turnover of 40 million, since it acquired the Taveners, Dainty and Parrs businesses from Toms of Denmark in January 2006. With growth in the market and our ability to provide the trade and consumers with the most comprehensive range of sugar confectionery available, we are well placed to take advantage of further opportunities.