Tangerine acquires Highland Toffee and Wham brands

UK-based confectionery and popcorn company Tangerine Confectionery has acquired Highland Toffee and Wham brands from Millar McCowan, which entered into administration last month.

The acquisition of both brands is part of an ongoing growth strategy for Tangerine, which has seen its turnover quadruple to more than £160m ($253m) in the last five years, the company said.

Tangerine Confectionery marketing director Alison Lewis said that securing the Wham and Highland Toffee brands and adding them to its portfolio, which includes some of Britain’s best-loved sweets, is a significant step for the business.

Last month, Scotland-based New McCowans went into administration, putting 103 jobs at risk, and appointed Grant Thornton as administrators.

Despite selling 140 million bars, New McCowans posted a loss of £2.4m ($3.7m) on sales of £8.4m ($12.95m) in the 13 months up to 31 March 2010, in addition to losses in the previous year.

Wham is a 25-year old brand, which has recently expanded into new flavours and formats including minis and sharing bags, while Highland Toffee is an 80-year-old brand.