German snack and food company Intersnack is to acquire the Butterkist popcorn brand from privately owned Tangerine Confectionery via its KP Snacks arm.
As part of the deal, Butterkist popcorn manufacture will be transferred to KP Snacks along with 150 employees, while the remaining part of the Tangerine Confectionery business will continue to operate autonomously.
Mark Thorpe, CEO of KP Snacks, commented: “I am delighted that we have this opportunity to add Butterkist to our existing portfolio, which includes McCoy’s, Hula Hoops, Pom Bear and KP Nuts, as we seek to offer consumers and customers a comprehensive UK snacking category proposition”.
“We believe this announcement is good news for both parties,” said Anthony Francheterre, CEO of Tangerine Confectionery. “It confirms Tangerine’s focus on sugar confectionery, accelerating the development of our iconic brands Barratt, Dip Dab, Fruit Salad, and building a stronger category with our customers”.
Terms of the deal have not been disclosed.
Sources: European Supermarket Magazine