UK confectionery and snack food group Zetar today (23 October) revealed that it has acquired Salamanda, the wholly-owned snack food subsidiary of the Kinnerton Group, for a total consideration of up to GBP2.25m (US$4.21m).
Go deeper with GlobalData
Salamanda manufactures premium chocolate and yoghurt-coated fruit and nut snacks.
The initial consideration of GBP1.2m has been settled through the payment of GBP900,000 cash and the issuance of 66,964 Zetar shares, valued at 10 pence each, to Kinnertion.
An additional consideration of up to GBP1.05m will be payable in cash or ordinary shares, depending on the future financial performance of Salamanda. If Salamanda posts profit before tax of GBP400,000 or more in FY2007/8 and GBP550,000 in FY2008/9, the maximum additional consideration will be paid.
York-based Salamanda was established in 2004 by Joe Horsley and Mike Flower, who will continue to manage the business after the acquisition is completed.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
