Dublin-based Valeo Foods is acquiring Schluckwerder Group, maker of Lübeck marzipan, from German investment firm Novum Capital.

Irish firm Valeo Foods Group plans to merge its two confectionery units, Big Bear Confectionery and Tangerine Confectionery, the BBC reported.

Valeo Foods is set to buy United Kingdom-based Tangerine Confectionery from private equity firm Blackstone Group for $127.6 million, according to media reports.

Helsinki-based Raisio sold its confectionery business, which includes popular brands such as Poppets, Fox’s, XXX, Payne's Just Brazils and Pedro, as well as private-label and contract-manufactured products, for €100 million ($120 million) to Valeo Foods Ltd. on Dec. 29, 2017. The deal also includes six production plants in the U.K. and Czech Republic.