Dickson Minto and Kirkland lead as Blackstone sells Black Jack and Fruit Salad maker for £100m
Tangerine Confectionery, which also owns Black Jack, Refreshers and Sherbet Fountains is being sold to CapVest's Valeo Foods, owner of Fox's Mints
August 15, 2018 at 05:08 AM
2 minute read
Kirkland & Ellis and Dickson Minto have taken the lead roles on the sale of sweet-maker Tangerine Confectionery, owner of Dip Dab, Flumps and Wham bars.
Private equity giant Blackstone has agreed to sell the company to Valeo Foods, a portfolio company of private equity competitor CapVest, for a reported £100m.
Scottish boutique Dickson Minto has taken the lead role for Blackstone, which has owned Tangerine Confectionery since 2011, on the deal first reported by Sky News .
Dickson Minto corporate partner Andrew Nuthall is leading the firm's team advising on the matter.
Kirkland is advising longstanding client CapVest, with London-based corporate partner David Arnold leading.
Valeo Foods' existing confectionery brands include Poppets, Pedro and Fox's Glacier mints.
Other brands owned by Tangerine include Fruit Salad, Black Jack, Refreshers and Sherbet Fountain.
Recent food industry deals include the sale of Aunt Bessie's to US-listed Nomad Foods, which owns Goodfella's Pizza and Birds Eye, in a deal worth approximately £210m.
Aunt Bessie's, famous for its Yorkshire puddings and roast potatoes, was sold by William Jackson Food Group, which was advised by Addleshaw Goddard.
New York-listed Nomad Foods was advised by Norton Rose Fulbright.
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