Tangerine completes Monkhill buyout

BLACKPOOL-based confectionery giant Tangerine has completed the buyout of a famous sweet-maker across the Pennines.

The firm, which has its headquarters of Clifton Road in Marton, has acquired Monkhill Confectionery, makers of Butterkist Popcorn and Barratt Sherbert Fountains, for a cool 58m.

The company was born from Cadbury Schweppes and creates one of Europe's biggest sugar confectionery businesses.

Tangerine chairman, Steve Joseph, said: "Acquiring such famous brands is a fantastic prospect. Tangerine has grown rapidly from a turnover of 40m, 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."

With the acquisition of Monkhill, Tangerine now employs more than 1,500 people at its factories in Liverpool, Poole, York, Pontefract and two sites at Blackpool.