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Sweet Cred, which sells branded novelty confectionary, has received £5 million expansion capital from private equity firm Octopus Investments.

Alistair Brew from Octopus is joining Sweet Cred’s board, along with Harry Drnec, the former managing director of Red Bull. Octopus has appointed Steven Joseph, chairman of Tangerine Confectionary, as chairman of Sweet Cred.

Based in Sidcup, Kent, Sweet Cred develops products that combine sweets with toys based on its cartoon characters. It sells to clients in Europe, the US and the Middle East. The company made a turnover of about £1.6 million and a pre-tax loss of £855,980 for the year ended December 31, 2005.

Sweet Cred was founded in 2004 by chief executive Clive Garrad, who says: “We have received considerable global interest in our products and the time has come for us to really scale up the business.”

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