Thu, 15 Feb 2018 | BUSINESS SALE
Some of the UK’s most beloved confectionery brands - including Barratt, Dip Dab and Sherbert Fountains - are being put up for sale by their private equity owner with a £110 million price tag.
Tangerine Confectionery, the parent company for several classic sweet products such as Fruit Salad and Black Jack, is to be auctioned later this year by Blackstone, the multinational private equity firm that owns it.
The sale will be advised by Houlihan Lokey, an investment bank. Industry insiders expect the business to fetch somewhere between £100 million and £120 million.
Though it typically aims for much larger acquisitions, Blackstone took control of the UK confectionery company back in 2011. At the time, Tangerine also owned the Butterkist popcorn brand, though this was sold last year to the German parent company KP Snacks.
Founded in 2006 through a merger of traditional confectionery companies Taveners, Daintree and Parrs, Tangerine grew through the late 2000s with a series of acquisitions.
In August 2006 it took control of Blackpool-based Burton Foods’ confectionery arm before purchasing Monkhill Confectionery from Cadbury in 2008 for £58 million. The deal included several product lines, including Barratts and Trebor Basset Mints, and factories in Cleckheaton, Pontefract and York.
Today, Tangerine has five factories in Blackpool, Liverpool and the previous locations, as well as its headquarters at Pontefract in West Yorkshire.
Recently times have been hard for the sweet maker, however, with the brand enjoying varied successes under Blackstone’s ownership.
Despite a resurgent demand for ‘retro’ brands among the UK buying public, broader market trends have offset Tangerine’s growth, especially as many consumers switch to sugar-free and other healthy snacking options.
Accounts filed at Companies House reveal that Tangerine’s sales declined from £151.9 million 2015 to hit £139.3 million the next year.
The deadline for offers is 2pm UK time on Thursday 1 July 2021. All interested parties will be required to agree to a Non Disclosure Agreement to receive further information. The opportunity to acquire a centrally-located precision welding and fabric...
LEASEHOLD
Offers a comprehensive range of over 7,000 product designs, standing apart from competitors for the breadth of its offering, its short lead times and its customer-focused services.
FREEHOLD
Operates nationwide and has provided its services internationally. Services 42 active clients with contracts in place. Scope to develop a training environment to recruit and train new engineers.
RELOCATABLE
|
18
|
|
Jun
|
Hull transport business bought out of administration | BUSINESS SALE
Transport operator Clugston Distribution Services has bought...
|
18
|
|
Jun
|
Kingswood Holdings make £4m acquisition and targets extensive pipeline of deals | BUSINESS SALE
UK-based wealth management firm Kingswood Holdings has struc...
|
17
|
|
Jun
|
Four Communications acquires creative agency in ninth BGF-backed takeover | BUSINESS SALE
Marketing services firm Four Communications Group has acquir...
Sign up to receive our acquisition alert emails to get your FREE guide
|
22
|
|
Sep
|
Shopping channel sold by private equity owners | BUSINESS SALE
Shopping channel, Ideal Shopping Direct, has been sold by it...
|
18
|
|
Mar
|
Sale of Center Parcs considered | BUSINESS SALE
The owners of the holiday resort group Center Parcs is once ...
|
04
|
|
Nov
|
Yildiz Holdings buys UB: a handful of biscuit brands | MERGER
Turkish food giant Yildiz Holdings has grabbed a tin-full of...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources