Finland’s Raisio has announced it has finalised the acquisition of British snack foods manufacturer Glisten PLC, as the Finnish food manufacturer eyes opportunities for growth.
The acquisition was finalised today and will see Raisio pay EUR 22.8 million (GBP 19.8 million) for Glisten. After the completion of the acquisition, Glisten Ltd is owned by Raisio UK Ltd, of which Raisio plc owns 85 per cent and Glisten's senior management 15 per cent.
"This acquisition provides both the parties good opportunities for growth and expansion into small but growing product categories on new market areas,” said Raisio's CEO Matti Rihko. “We have already begun the work to launch Raisio's products to the UK market and correspondingly Glisten's products to the Finnish and neighbouring markets.
“We will continue in the path of growth and internationalization and actively work to find suitable new product categories and markets for Raisio."