UK ice cream maker Richmond Foods has announced that it has made an agreement to acquire the entire issued share capital of Oldfields Ice Cream.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Sheffield-based Oldfields, which specialises in catering products and two-litre tubs of ice cream, reported pre-tax profit of £0.3m (US$0.5m) for 2002, on turnover of £5.4m, reported the Financial Times. At the end of 2002, the company had net assets of £2.6m.
Richmond is to buy the company for £3.95m in cash, with £0.15m deferred until November 2003 and £0.4m deferred until June 2004.
