UK snacks and confectionery firm Zetar has snapped up local chocolate maker Derwent Lynton.
Zetar said today (14 April) that it had struck a deal to pay up to GBP800,000 (US$1.3bn) for the Derby-based company.
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Derwent Lynton makes products including solid milk chocolate, sugar-coated milk chocolate products and chocolate drops covered in hundreds and thousands, Zetar said.
For the year to 30 June last year, Derwent Lynton’s turnover was GBP4.2m. It generated an operating profit of GBP114,000.
Zetar said the total amount it will pay for the business – its first acquisition for four years – will depend on the level of working capital at Derwent Lynton when the deal is completed.
Zetar chief executive Ian Blackburn said: “The acquisition of Derwent Lynton is complementary to our existing confectionery business, providing access to new customers. Its additional manufacturing capability will also give Zetar the flexibility to offer new product variants to our existing customers.”
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By GlobalDataBlackburn added: “This relatively small acquisition is Zetar’s first acquisition since 2007. We are continuing to review other small opportunities.”
