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PRIVACY
Enterprise

North East deals of the week: key acquisitions, contracts and investments

Companies featuring in this week's round-up include Sweetdreams, Hays Travel, Mowgli, MCM Group, Global Maritime, Kromek and Mammoth

Matthew and Cathy Stephenson of Sweetdreams, based in Cramlington

Northumberland confectioner Sweetdreams is set for significant growth after being snapped up by a national food firm.

Cramlington-based Sweetdreams has been trading for more than 30 years and is best known for its Choc Nibbles range – sweets made from chocolate, caramel, biscuits and icing sugar which are sold online and in retailers including B&M and Aldi. The company has now caught the eye of Surrey based SugaRich, a leader in former foodstuff processing, which sees it save surplus food from going to waste, instead turning it into animal feed.

SugaRich is now keen to expand its offering to the food sector, prompting the strategic acquisition of the North East business.

Matt Stephenson, managing director of Sweetdreams, who runs the business on the Admiral Business Park with his wife Cathy, added: “This is an exciting time for Sweetdreams and our fantastic brand Choc Nibbles. Becoming part of the SugaRich family allows us to release the full potential of our range of products, offer our suppliers a unique and innovative solution to reduce surplus food waste, while benefiting from a significant increase in commercial return."

Hays Travel chair and owner, Dame Irene Hays.(Image: Tim Richardson)

Sunderland based holiday company Hays Travel has acquired a family run group with travel shops in Cambridgeshire and Lincolnshire. The Holiday With Us Group is a collection of independent travel agencies in March, Spalding and Wisbech, which was established by Christina Fitzpatrick and her family in 2009. The business started with just one shop but now operates the three stores with six people, all of whom now join Hays Travel.

Dame Irene Hays said the acquisition will create new jobs too, with Hays Travel looking to recruit staff – experienced travel agents and people considering a career change – in all three branches. The transaction has been made to coincide with the peak holiday trading period, and was completed after Hays Travel marked its most successful day of trading on Saturday, January 6.

Mammoth founder and CEO John Tuton with Mark Wharton, senior portfolio executive at NEL Fund Managers(Image: NEL Fund Managers)

Newcastle mattress and seating company Mammoth is set to create new jobs after securing a six-figure investment.

Mammoth has introduced new technologies into its mattresses and seats over the last 10 years, including ‘medical grade’ foam, and it has also forged partnerships with the likes of the Chartered Society of Physiotherapy, Premier League football teams and leading universities. Now the company has tapped into investment from the North East Growth Capital Fund through regional fund management firm NEL Fund Managers, which it will use to help drive sales of its recently revamped product range.