KP Snacks Acquires Butterkist Popcorn Brand
KP Snacks, which is owned by German snack-food company Intersnack, has announced plans to acquire the Butterkist popcorn brand from Tangerine Confectionery.
"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," said Mark Thorpe, CEO of KP Snacks.
Butterkist currently has a 50% market share in the UK's popcorn business. The company operates a manufacturing site in Pontefract, West Yorkshire, with nearly 150 employees, which will become part of the KP Snacks business.
"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 and Fruit Salad, and building a stronger category with our customers."
The rest of Tangerine's business will continue to be owned by private-equity group Blackstone.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.