Apax Global Alpha makes €16.6m investment in Bazooka Candy

Investment firm Apax Global Alpha has invested approximately €16.6m into Bazooka Candy Brands on a look-through basis.

Apax Global said on Wednesday that the Apax XI Fund, in which AGA is a limited partner, acquired Bazooka, a portfolio of leading non-chocolate confectionary brands, from Michael D. Eisner's Tornante and funds affiliated with Madison Dearborn Partners.

The FTSE 250-listed group said its internet/consumer sector team, working in partnership with Bazooka's management team, will look to stand the company up as an independent business. In support of its growth efforts, the team will focus on distribution growth, product innovation, geographic expansion, and the strategic acquisition of brands in complementary categories.

Bazooka produces, markets, and distributes a range of confectionary brands, including Ring Pop, Push Pop, Baby Bottle Pop, Juicy Drop, and Bazooka Bubble Gum. The company's portfolio spans lollipops, gummies, chewy candy, and gum.

As of 0850 BST, Apax shares were down 0.24% at 167.60p.

Reporting by Iain Gilbert at Sharecast.com