Butterkist goes German with sale to KP Snacks

Size:

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

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

The value of a transaction is doubtful to be disclosed though is approaching to be in a tens of millions of pounds.

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

As partial of a 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
Image:
KP Snacks is Britain’s second-biggest owners of bagged snacks

The rest of Tangerine, that includes retro candy like Sherbet Fountain and Fruit Salad, will continue to be owned by a 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 sugarine and salt.

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

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

KP, that 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 a 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.

Write comment

Share with: Twitter Delicious Facebook Digg Stumbleupon Wordpress Googlebuzz Myspace Gmail Newsvine Favorites More
You can leave a response, or trackback from your own site.