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Zetar buys Derby chocolate firm for initial £0.5m


by stockmarketwire.com - 14/04/2011

Zetar buys Derby chocolate firm for initial £0.5m

"Confectionery and snack foods company Zetar plc has acquired Derwent Lynton, a chocolate manufacturer based in Derby, for up to £0.8m depending on the level of working capital at completion."

In the year to June 2010, Derwent Lynton had sales of £4.2m and an operating profit of £114,000, with net assets of £0.6m.

An initial consideration of £0.5m cash will be paid in cash at completion.

CEO Ian Blackburn said, 'The acquisition of Derwent Lynton is complementary to our existing confectionery business, providing access to new customers.

'Its additional manufacturing capability will also give Zetar the flexibility to offer new product variants to our existing customers.

'This relatively small acquisition is Zetar's first acquisition since 2007. We are continuing to review other small opportunities.'

At 9:27am: (LON:ZTR) Zetar share price was +2p at 201p

More Details: http://www.stockmarketwire.com/display/?id=4126016§ionId=standardNews