Tangerine Looks For Investment to Fund Further Expansion
Blackpool-based Tangerine Confectionery, the largest British manufacturer of sugar confectionery and branded popcorn in the UK, is reported to be seeking a new private equity investor to help fund further expansion. Since its formation in 2005, following the buy-out of Danish company Toms, Tangerine Confectionery has quadrupled in size through both organic growth and acquisition. Current turnover is over £150 million and Tangerine Confectionery employs over 1,300 people.
The company now has eight production facilities and a distribution depot and owns brands such as Butterkist popcorn, Barratt Sherbet Fountain, Henry Goode’s soft eating liquorice and Princess marshmallows. In addition, Tangerine manufactures own brand products for all of the UK’s leading high street food retailers. Within five years, it aims to be the largest independent manufacturer of confectionery in Europe. Tangerine is owned by private equity firm Growth Capital Partners.
Tangerine recently gained a top 20 place in the latest Sunday Times Deloitte Buyout Track 100. The league table ranks Britain’s 100 private equity-backed companies with the fastest-growing profits (EBITDA) over the last two years of available accounts.
