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VALEO FOODS GROUP ACQUIRES TANGERINE CONFECTIONERY

Iconic Barratt’s brand, including Refreshers and Dip Dab sweets, among new brands to join our own Fox’s in Valeo Foods’ growing international portfolio of category leading consumer brands Valeo Foods (“Valeo”), one of Europe’s fastest-growing international food groups and parent to our own group of companies, has acquired Tangerine Confectionery (“Tangerine”), one of the U.K.’s leading independent manufacturers and distributors of family-favourite confectionery. As is standard practice in the case of transactions of this scale, Valeo will engage with the Competition and Markets Authority in the U.K. to secure competition clearance for this acquisition. Tangerine was founded in 2006 and is home to well-known brands such as Barratt (which sells treats such as Black Jack, Fruit Salad, Sherbet Fountain, Refreshers and Dip Dab), Taverners, Jamesons and Princess. A market-leader in the U.K., the business has also developed a growing international presence across Australia, Canada, Scandinavia, the US and, more recently, the Middle East. The company employs approximately 1,200 people across five sites in the North of England. Commenting on the transaction, Seamus Kearney, CEO, Valeo Foods, said: “We are very excited about the acquisition of Tangerine which is in line with our strategic focus and builds on our recent acquisition of Big Bear Confectionery in the U.K. and Candy Plus in Czech during 2017. Tangerine is highly complementary to these confectionery businesses, with a focus on largely different technologies, channels and customers. We look forward to adding Tangerine’s iconic brands to our growing portfolio of category-leaders.”