Zetar acquires Humdinger
Thursday, June 22, 2006
Zetar Plc, the AIM listed confectionery and snack foods group, is to acquire Humdinger Limited for a total consideration of up to £12.975m.
Humdinger is a major UK supplier of premium quality dried fruit and nuts, fruit crisps and bars and other snack products, with key focus on 'healthier' snacks products. In addition Humdinger provides packaging, distribution and marketing services for producers including Community Foods Limited and Sunsweet Growers
Zetar is undertaking a placing of 2,800,000 new shares at 400p per share to raise £11.2 milllion to fund the acquisition.
Ian Blackburn, Chief Executive of Zetar said: 'Humdinger together with Readifoods, which was acquired in March 2006, provides Zetar with a strong position in the UK dried fruit and nuts market. Humdinger is an innovative, fast growing company with an experienced and creative management team that also provides us with an entry into the rapidly expanding 'healthier' fruit snacks sector.
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