Butterkist goes German with sale to KP Snacks

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Sky News has learnt that Butterkist is being sole by secretly owned Tangerine Confectionery to KP Snacks, Britain’s second-biggest owners of bagged snacks.

The Butterkist code is informed to generations of cinema-goers
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The Butterkist code is informed to generations of cinema-goers

KP, which is partial of the German food writer Intersnack Group, is approaching to announce the understanding on Monday.

The value of the transaction is doubtful to be disclosed but is approaching to be in the tens of millions of pounds.

Insiders pronounced that KP, which saw off rival seductiveness from other multinational food companies, had been penetrating to buy Butterkist to benefit bearing to the fast-growing popcorn category.

As partial of the deal, Butterkist’s production site in West Yorkshire will send to KP along with scarcely 150 employees.

KP Snacks is Britains second-biggest owners of bagged snacks
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KP Snacks is Britain’s second-biggest owners of bagged snacks

The rest of Tangerine, which includes retro candy like Sherbet Fountain and Fruit Salad, will continue to be owned by the private equity hulk Blackstone.

Popcorn brands now marketplace themselves as healthier alternatives to potato crisps, reflecting consumers’ flourishing ardour for dishes containing reduce quantities of sugar and salt.

Rising concerns about obesity, quite in western markets, have also heralded the hazard of a clampdown on selling activity by snacking and confectionery companies.

Propercorn, another popcorn manufacturer, sole a interest last year to investors including JamJar, whose partners embody founders of Innocent Drinks, the smoothie producer.

KP, which also owns frail brands such as Skips, Discos and Wheat Crunchies, has been partial of Düsseldorf-based Intersnack given it was sole in a £500m understanding in 2012.

In total, KP employs some-more than 1,600 people in the UK.

Blackstone declined to criticism on Sunday, while KP could not be reached for comment.

Tangerine was suggested by Stamford Partners, with Houlihan Lokey advising KP Snacks.

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