M&A Deal Summary

The Blackstone Group Acquires Tangerine Confectionery

On July 4, 2011, private equity firm The Blackstone Group acquired food company Tangerine Confectionery from Growth Capital Partners for 115M GBP

Acquisition Highlights
  • This is The Blackstone Group’s 4th transaction in the Food sector.
  • This is The Blackstone Group’s 146th largest (disclosed) transaction.
  • This is The Blackstone Group’s 12th transaction in the United Kingdom.
Investment Fate
  • Tangerine Confectionery was sold to a strategic buyer in 2018 for 100M GBP.
  • Tangerine Confectionery was sold to a strategic buyer in 2022 for 100M GBP.

M&A Deal Summary
Date 2011-07-04
Target Tangerine Confectionery
Sector Food
Buyer(s) The Blackstone Group
Sellers(s) Growth Capital Partners
Deal Type Secondary Buyout
Deal Value 115M GBP
Advisor(s) Stamford Partners LLP (Financial)

Target

Tangerine Confectionery

Pontefract, United Kingdom
website
Tangerine Confectionery is engaged in the production of sugar confectionery and popcorn in the United Kingdom. The company is the largest manufacturer of private label sugar confectionary in the United Kingdom and owns a number of heritage brands, such as Barratts, Henry Goode's, Wham and Butterkist, the number one popcorn brand in the United Kingdom.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.

DEAL STATS #
Overall 150 of 319
Sector (Food) 4 of 4
Type (Secondary Buyout) 17 of 72
Country (United Kingdom) 12 of 26
Year (2011) 5 of 10
Size (of disclosed) 146 of 167
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-06 Universal Orlando

Orlando, Florida, United States

Universal Orlando is comprised of Universal Studios Florida, a theme park focused primarily on 'stationary' entertainment; Islands of Adventure, a ?thrill ride? oriented park based on 5 distinct island themes; and CityWalk, a night life entertainment and restaurant complex.

Sell $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-11 Dili Group Holdings Co

China

Dili is one of the leading operators and consolidators of large-scale wholesale markets for agricultural produce in China. The Company operates markets in Central and Northern China, which serve as regional and national platforms for buyers and sellers.

Sell -

Seller(S) 1

SELLER

Growth Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2009
PE ASSETS 250M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Growth Capital Partners LLP is a private equity firm that seeks investments in small to mid-sized UK based businesses. GCP provides both debt and equity capital for profitable companies with strong growth prospects and experienced management teams. The Firm typically looks to invest £5m - £50 million. Specific areas of interest include business support services, leisure, transport and distribution, consumer products and specialist engineering. Types of transactions include MBOs, growth capital financings, and secondary or tertiary buyouts. Growth Capital Partners formerly known as Close Growth Capital was spun out of Close Brothers Group plc and became independent in 2009. Growth Capital Partners LLP is based in London.

DEAL STATS #
Overall 13 of 28
Sector (Food) 2 of 3
Type (Secondary Buyout) 3 of 8
Country (United Kingdom) 12 of 27
Year (2011) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-20 A-Gas International Holdings

Bristol, United Kingdom

A-Gas International Holdings is an independent global specialist blender, re-packer, and distributor of specialty gases and chemicals to the refrigeration and insulation foam industries, primarily focusing on environmentally acceptable replacement products for chlorofluorocarbon (“CFC”) gases and liquids. A-Gas International Holdings was founded in 1993 and is based in Bristol, United Kingdom.

Sell £70M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-18 Killby & Gayford Group

London, United Kingdom

Killby & Gayford is a long established fit-out and construction business trading mainly in London and the South East. The business comprises specialised banking work including refurbishment of branches and offices and ATM installation/replacement; and general refurbishment of offices, schools and historic buildings.

Sell -
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