UK firm Tangerine Confectionery has acquired the Highland Toffee and Wham brands from New McCowans following the Scottish company’s collapse into administration.
New McCowans fell into administration last month, leaving 103 without a job. Although Tangerine has bought the two brands, it is believed that the company has not acquired New McCowans’ factories.
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Tangerine Confectionery said today (14 October) that the acquisition is part of an ongoing growth strategy which has seen its turnover quadruple to more than GBP160m (US$253.5m) in the last five years.
Marketing director Alison Lewis said: “To have secured the Wham and Highland Toffee brands and to be adding them to a portfolio which includes some of Britain’s best loved sweets is a significant step for the business. They both retain such a strong appeal for adults and kids alike and have a natural place amongst our family favourites.”
Wham and Highland Toffee will join a portfolio that includes Barratt Refreshers, Sherbet Dip Dabs, Sherbet Fountains, Black Jacks and Fruit Salads, Taveners and Butterkist popcorn.
“The administrators continue to look at all potential options for the outstanding assets of the company, including Bristow’s fudge producing business in Devon,” administrators Grant Thornton said in a statement today (14 October).
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By GlobalDataThe financial details of the deal were not disclosed.
