UK: Glisten investors back sale to Raisio
By: just-food.com | 12 March 2010
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Glisten's brands include Skinny Candy |
Shareholders in UK snack maker Glisten today (12 March) gave the green light to the sale of the business to Finnish food group Raisio.
The investors backed the EUR22.8m (US$31.3m) deal, announced by the two companies last month, at a special meeting this afternoon.
Two court hearings will be held next month to approve the takeover but, should the deal go through, Glisten shares are expected to be delisted from the London stock exchange on or around 8 April.
When Raisio announced its bid to buy Glisten in February, the UK group's chairman hailed the deal as a "win-win" for both businesses.
Sectors: Dairy, Health & wellness, Snacks
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UK: Glisten investors back sale to Raisio
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There is currently 1 comment on this article
This deal still surprises me. Raisio have moved out of their comfort zone. Will it be a step too far for a company with experience in ingredients and Benecol dairy products? Or will it be an inspired acquisition of a fledgling business, albeit in a category in which Raisio has little experience?
Pieceofcake said at 5:56 pm, March 12, 2010
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