Valeo Foods Group has reportedly agreed to acquire Tangerine Confectionery from private equity firm Blackstone in a £100m-plus deal.
The merger will add the Barratt, Dip Dab and Fruit Salad confectionery brands to Valeo’s Big Bear Confectionery portfolio, which Valeo acquired from Raisio in 2017 for €100 million.
Big Bear Confectionery includes brands such as Fox’s Glacier Mints and Poppets, and this acquisition will further enhance Valeo’s position in the UK’s confectionery market.
As a result of the deal, Valeo has added Tangerine’s five UK confectionery production sites in Liverpool, York, Blackpool, Pontefract and Cleckheaton to its UK production network.
Last year, Tangerine sold its Butterkist popcorn brand to KP Snacks for an undisclosed sum, as the company claimed that it wanted to focus on developing its core confectionery business.
Valeo currently operates in 90 markets worldwide, and owns brands such as Rowse honey, Balconi and Jacob’s.
© FoodBev Media Ltd 2019
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