Sweets firm buys popcorn maker for £58m

Blackpool-based sweets firm Tangerine has bought out the makers of Butterkist popcorn and Barratt Sherbet Fountains, it was announced today.

The company acquired Monkhill Confectionery from Cadbury Schweppes for £58m (€76.9m).

The combined business has a turnover approaching £150m (€198.9m) and employs more than 1,500 people at factories in Liverpool, Poole, York, Pontefract, Cleckheaton and two sites in Blackpool, plus a distribution centre near Chesterfield.

Tangerine chairman Steven Joseph said: “Acquiring such famous brands is a fantastic prospect. Tangerine has grown rapidly from a turnover of £40m (€53m) 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.”