Houlihan Lokey is pleased to announce that KP Snacks has acquired Butterkist. The transaction closed on July 14, 2017.
KP Snacks is the UK's number one manufacturer of nuts and its number two manufacturer of bagged snacks. The company produces some of Britain's most iconic snack brands, including McCoy's, Hula Hoops, KP Nuts, POM-BEAR, Skips, Space Raiders, Discos, Nik Naks, Wheat Crunchies, Roysters, Brannigans, and Frisps. KP Snacks employs over 1,600 people in the UK across five manufacturing sites and is headquartered in Slough, Berkshire. KP Snacks is part of the Intersnack Group, one of Europe's leading producers of savoury snacks, operating in around 30 European countries.
Butterkist is the number one brand of popcorn in the UK, with a 50% share of the branded popcorn market. Butterkist owns Europe's largest popcorn facility, located in Pontefract.
Butterkist was carved out of Tangerine Confectionery, which has over 150 years of manufacturing experience within the industry and is one of the largest UK-owned confectionery manufacturers today. Tangerine manufactures for both private label and its own famous brands, including Anglo Bubbly, Barratt, Princess Mallows, Taveners, Henry Goode's, and Jameson's.