The Blackpool-based firm acquired the iconic brands from Scottish confectioner Millar McCowan, which entered administration last month.
Tangerine now owns six out of the top 10 chew bar brands. It’s latest acquisitions will join Barratt Refreshers, Sherbet Dip Dabs, Sherbet Fountains, Black Jacks and Fruit Salads.
The firm’s marketing director Alison Lewis said: “To have secured the Wham and Highland Toffee brands and to be adding them to a portfolio, which includes some of Britain’s best loved sweets, is a significant step for the business.
“They both retain such a strong appeal for adults and kids alike and have a natural place amongst our family favourites.”
The acquisition is part of an ongoing growth strategy which has seen its turnover quadruple to more than £160M in the past five years.
Last month, investment firm Ambrosia Holdings was linked with a possible rescue bid for Millar McCowan. Speaking last month, Manoli Vaindirlis, from Ambrosia Holdings said: “We still believe there’s a strong place in the market for the company.”