Finland-based food group Raisio has said that it is eyeing acquisition opportunities in a bid to grow its business further in Europe.

Speaking to just-food today (31 January), a spokesperson for the firm said that Raisio’s target is to grow its snacks business in Europe.

“We started our growth phase at the beginning of last year and the acquisition of Glisten was part of that. We have been monitoring possible acquisitions because that is the main part of our growth strategy,” the spokesperson said.

Raisio purchased Glisten in a EUR22.8m (US$31.3m) deal early last year in a move the UK group’s chairman hailed as a “win-win” for both businesses.

The disclosure today, however, was prompted by reports that Raisio is interested in purchasing Sugar Puffs owner Big Bear Group in a deal valued at around GBP80m.

The spokesperson declined to comment on the rumours and Big Bear did not return requests for comment at the time of going to press.

In January last year, Big Bear announced proposals to list on London’s AIM market but the volatility in equity markets forced the business to wait for conditions to improve. The company said it would reignite its plans “when the time is right”.