Tangerine Confectionery has remained silent on reports that private-equity firm Blackstone Group is in talks to buy a stake in the company.
The UK firm declined to comment on reports that Blackstone is in exclusive negotiations to acquire the 40% stake in the confectioner held by another private-equity firm, Growth Capital Partners. The remaining 60% of Tangerine is held by the company’s management.
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According to The Wall Street Journal, Rothschild is running the sale, which is expected to value the total company at GBP130m (US$212.9m).
Last October, Tangerine indicated that it was working with Rothschild to examine options to raise further capital in order to fuel future growth.
Tangerine generates a turnover of around GBP160m and produces various sugar confectionery brands, which include Liquorice Allsorts, Barratt’s sherbert fountains and Sharp’s toffees.
The company has expanded rapidly through acquisitions, including its 2005 purchase of the confectionery division of Burtons Foods and the 2007 acquisition of Monkhill Confectionery unit from Cadbury.
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By GlobalDataNeither Blackstone or Growth Capital Partners were available for immediate comment.
