Tangerine Confectionery sells Butterkist to KP Snacks
Our client, Tangerine Confectionery, a portfolio company of The Blackstone Group, today announced the sale of its popcorn business, Butterkist to KP Snacks, part of the Intersnack Group, Europe’s leading producer of savoury snacks operating in around 30 European countries.
Butterkist, an iconic brand with a 100 year old heritage, is the clear number one popcorn player in the UK’s fastest growing snacking market. The brand is supplied from Europe’s largest popcorn facility in Pontefract, West Yorkshire which has extensive manufacturing capabilities across all popcorn formats and employs c140 people.
Anthony Francheterre, CEO of Tangerine Confectionery, said: “We are proud to have been instrumental in Butterkist’s development and pleased to pass the baton to KP Snacks to continue its success story. We believe this announcement is good news for both parties and confirms Tangerine’s focus on sugar confectionery, accelerating the development of our iconic brands Barratt, Dip Dab, Fruit Salad and building a stronger category with our customers.”