UK confectionery company Tangerine Confectionery has appointed advisors to help it with future expansion plans.
The owner of the Barratt and Butterkist brands has appointed NM Rothschild & Sons to help it to raise the capital to “allow the business to move to this next stage of development” through “consolidating Tangerine’s position in the market”, increasing investment in marketing and capital, as well as “being mindful of any acquisition opportunities that might arise”.
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The company, which is owned by Growth Capital, said its turnover has grown from less than GBP40m (US$62.9m) to GBP160m “just under five years” transforming it into the “largest independent sugar confectionery manufacturer in the UK”.
However, the company added that while the plans for “further growth are exciting, operating in the current difficult economic environment means that the immediate focus remains on achieving the company’s financial objectives for 2010”.
