Close Growth Capital's (CGC) confectionery porfolio company Tangerine has agreed to acquire Monkhill Confectionery from Cadbury Schweppes for £58m in cash. The deal is subject to completion in February. This will be the second major purchase by Tangerine. In August 2006, it bought the confectionery arm of Burton’s Foods for an undisclosed sum. Specialist hybrid debt and equity investor GCG originally invested in Tangerine in January 2006. Today, the Blackpool-headquartered business has a turnover of £150m and 1,500 employees.
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