Our investment partnership with Tangerine began in January 2006. They are a branded and private label sugar confectionery that operates through a range of factories throughout the UK. They own a number of brands including the leading marshmallow brand, Princess, the popular Butterkist popcorn brand, the iconic Barratt Sherbet Fountain and Jameson’s chocolate confectionery. They were the largest independent confectionery manufacturer in the sector with real scale.
We partnered with them, because of their high-quality management team, their profile within the sector and their diversified customer base with limited concentration.
In July 2011 we led on the exit process resulting in a secondary MBO to Blackstone.