Zetar bags baked snack business
Thursday, May 24, 2007
Snack foods and confectionery group, Zetar, said today that its newly incorporated subsidiary, The Baked Snacks Company (BSC) had acquired Britannia, a manufacturer of innovative baked and other snack products.
The company paid an initial £4.7 million for the business, with additional consideration payable dependent upon the future financial performance of BSC.
Britannia is based in Teesside and has been at the forefront of the development of baked snacks, biscuits, crisps and cereals and to date has made substantial investments in a purpose built, state of the art manufacturing facility and in the development of its product range.
Ian Blackburn, chief executive of Zetar said: “Britannia has a first class factory with an excellent portfolio of products. The formation of The Baked Snacks Company and its purchase of the assets and business of Britannia provides Zetar with an opportunity to enter the emerging healthier baked snacks sector and to quickly build BSC into a significant business.”
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