UK confectionery firm Glisten has said that it has completed the acquisition of the trading operations and assets of Sunya, a division of Renshaw Scott.
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Glisten said the acquisition of Sunya, which makes chocolate confectionery, is in accordance with the company’s strategy to build a food group focused on niche sectors.
Production of Sunya’s products will be transferred to Glisten’s Blackburn site through December in order to minimise disruption during the busy pre-Christmas period, the company said.
In the year ended 30 June 2003, Sunya had sales of approximately £1.8m (US$3.0m) and a pro forma operating profit of £220,000.
Glisten said it is acquiring Sunya for a cash consideration of £750,000 for the assets excluding stock and goodwill. Stock will be purchased at a cost of approximately £220,000. There will in addition be £110,000 of costs associated with the transaction, Glisten said.
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