Germany-based Intersnack, the company behind savoury snacks brands KP and Pom-Bear, is reportedly set to acquire Butterkist popcorn from UK firm Tangerine Confectionery.
Sky News yesterday (16 July) reported a deal on the brand would be finalised this week. The price Intersnack is set to pay is unlikely to be disclosed but is expected to be in the tens of millions of pounds, Sky News said.
Go deeper with GlobalData
The rest of Tangerine, which includes confectionery brands like Refreshers, Wham and Dip Dab, as well as own-label operations, will remain owned by private-equity group Blackstone, Sky News reported.
Approached by just-food this morning, Tangerine indicated a statement could be issued later today.
Neither Intersnack nor its UK subsidiary KP Snacks could be reached for immediate comment.
See Also:
Should a deal for Butterkist be announced today, it will come almost five years since Intersnack moved to buy KP Snacks from the then United Biscuits. That transaction boosted an Intersnack UK arm generating sales of around GBP80m (US$104.6m) to one enjoying revenues of around GBP360m.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
