Private equity firm Octopus Investments has injected millions of pounds of expansion capital into a children’s novelty confectionary business.

The firm provided £5 million to Sweet Cred after being introduced to the company by corporate finance adviser Acanthus. The funding will be used to finance working capital and to assist with the strategic development of the business.

Based in Sidcup, Kent, Sweet Cred sells a range of products that combine sweets with toys that are based around the five cartoon characters in the Sweet Cred gang.

The range is marketed in Europe, the US and the Middle East. Its products are sold in the UK through wholesalers, retailers, motorway service stations and toyshop chains.