Irish branded food and beverage producer Valeo Foods has agreed to acquire British confectionary company Tangerine Confectionery from U.S. private equity firm Blackstone in a 100 million pounds ($127.7 million) plus deal.
The merger will add the Barratt, Dip Dab and Fruit Salad confectionery brands to Valeo’s big bear confectionery portfolio, which Valeo acquired from Raisio in 2017 for $114.2 million.
This acquisition will further enhance Valeo’s position in the UK’s confectionery market.
As a result of the deal, Valeo has added Tangerine’s five UK confectionery production sites in Liverpool, York, Blackpool, Pontefract and Cleckheaton to its UK production network.