Traditional sweets manufacturing firm Maxilin Crawford, based in Bolton, has acquired the assets of its former competitor Tilleyâs Sweets.
Maxilin Crawford secured the deal for Tilleyâs for an undisclosed fee with support from RBS Invoice Finance, NatWest and Lombard, the bankâs asset finance partner.
The firm is the parent company of Glossop based lollipop producer R Crawford (Northern) Ltd and liquorice maker Maxilin Ltd, has secured the deal as part of its strategy to expand its product lines.
As part of the deal, Maxilin will more than triple its weekly production capacity from 20 tonnes of sweets to 90 tonnes and will now trade as Crawford & Tilley.
Managing Director at Maxilin Crawford, Joanne Williams, said that the deal has come at the ideal time.
Williams continued: We were planning to expand our production capabilities and whilst at an industry show, we learned Tilleyâs was available and it made absolute sense to purchase the business and its assets as Tilleyâs fitted perfectly with our current ranges and will allow us to expand and grow our product lines.
In order to secure the funding required to push the acquisition forward, Williams sought help from NatWest Senior Relationship Manager, Steve Walsh.
Walsh then worked with RBS Invoice business development manager Dan Anderson, along with Lombard director Rohan Whittle and relationship manager Andrew Christmas, to obtain appropriate financing.
Walsh said that Maxilin Crawford has enjoyed sustainable and strong growth over the last few years and the acquisition of Tilleyâs Sweets is a fantastic one for the business.
He believes that Williams and the management team have a clear plan in place to grow the business further and he wished them all future success.
Meanwhile, Anderson said: The acquisition of Tilleys Sweets complements Maxilin Crawford perfectly and builds on their already impressive product range.