UK confectioner lists Australia as key focus amidst global expansion
Tangerine Confectionery, the UK sweets firm, wants to double export sales as it expands its business in Australia.
The company has revealed its target for overseas sales after announcing it will sell Sherbet Fountains and Taveners Proper Sweets to Australian retailers including Coles.
Australia is Tangerine’s largest export market and a spokesman told just-food that the company wants to build its business Down Under and in South Africa, Hong Kong and Canada.
“We currently export about 5% of our turnover and we are keen to expand this to about 10%,” the spokesman said.
The weakness of sterling is proving helpful to UK exporters as they deal with a challenging domestic market.
However, the spokesman insisted Tangerine’s roster of traditional sweets will help the business at home and abroad.
“The weak pound is helpful to exports but we feel the thing that will drive exports is the popularity of nostalgia brands line Sherbet Fountain,” he said.
“Tangerine has expanded significantly in the last 18 months as the result of acquisitions. Sugar confectionery spend is holding up well and we believe we have some very strong brands that will continue to sell well.”
The privately-owned Tangerine filed its most recent accounts in October and reported that annual losses had widened despite soaring sales.
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