Retro sweet producer Tangerine Confectionery has been bought by Valeo Foods Group for an undisclosed sum.
The deal is subject to clearance from the Competition and Markets Authority.
Dublin-based Valeo Foods owns a portfolio of over 50 international food brands including Rowse Honey, Fox’s and XXX Mints in the UK. It has expanded rapidly since it was founded; the purchase of Tangerine is its 12th acquisition in eight years.
Tangerine was founded in 2006 and is home to the Barratt, Taveners, Jamesons and Princess brands. It employs approximately 1,200 people across five sites in the north of England.
Commenting on the transaction, Seamus Kearney, Group CEO, Valeo Foods, said: “We are very excited about the acquisition of Tangerine which is in line with our strategic focus and builds on our recent acquisition of Big Bear Confectionery in the UK and Candy Plus in the Czech Republic during 2017. Tangerine is highly complementary to these confectionery businesses, with a focus on largely different technologies, channels and customers. We look forward to adding Tangerine’s iconic brands to our growing portfolio of category leaders.”
Anthony Francheterre, CEO, Tangerine Confectionery, added: “This is an exciting development for our business as this acquisition will further accelerate the growth momentum behind Tangerine’s iconic brands. Tangerine and Valeo share a strong entrepreneurial culture and a shared focus on adaptability, innovation and agility and we look forward to being part of an ambitious and fast-growing international food business.”
