23 January 2008

 

Cadbury Schweppes, the world's largest confectionery company, has agreed to sell its Monkhill business to Tangerine Confectionery Ltd. for £58 million in cash. Stamford Partners acted as advisor to Tangerine on the transaction and has therefore successfully concluded the firm's first transaction of the year.

 

Monkhill principally manufactures sugar confectionery and popcorn for the UK market. Its 2007 revenue is expected to be approximately £76 million and 2007 pro forma earnings before interest, taxation, depreciation and amortisation are expected to be approximately £6.7 million.

 

Headquartered in Blackpool, Tangerine Confectionery was created in January 2006 by the acquisition of the UK operations of the Toms Group of Denmark. Stamford Partners also advised on this transaction. The firm aquired the confectionery arm of Burtons in August 2006 giving the business a turnover in excess of £60 million and 650 employees.

 

Stamford Partners is a specialist investment banking firm with operations in London and Amsterdam. The firm specialises in providing investment banking advice to European food and beverage companies, basing its advisory activities on strong relationships with leading European companies in the sector.

 

Straumur Investment Bank owns 50.01% of the shares in Stamford Partners.

 

For further information, please contact:

 

Rhiannedd Brooke, Head of International Media Relations

Corporate Communications

+44 7885 997 580