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Close looks to make a mint

Article Date:  Jan 19 2006 Elliott Davis


Experienced food industry entrepreneurs Steven Joseph and Chris Marshall have completed a management buy-in of Blackpool-based Toms Confectionary, with the aid of Close Brothers Growth Capital (CBGC).

Joseph and Marshall, who previously worked together at Portfolio Foods and Shipmans, assume control of the business from its Danish parent company Toms Gruppen. CBGC is providing both equity and debt, though exact details of the transaction have not been released.

Specialising in the manufacture of private label sugar confectionary (including marshmallows, wine gums and mints), Toms Confectionary generated £40 million of revenue last year and boasts strong relationships with ‘all of the major UK supermarkets, wholesalers and cash and carry outlets’.

‘The opportunity for us is in backing a team with considerable experience in this sector,’ says CBGC’s Natalie Eastham, who will join the Toms Confectionary board. ‘The company has a solid position in the own-label product business, good relationships with leading retailers and some strong brands of its own.’

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