Finland’s Raisio Proposes Glisten Takeover

Finland’s Raisio made a public offer to take over UK-based snack foods group Glisten’s total issued ordinary share capital for €22.8m ($31.3m), to help Raisio in its global expansion plans.

The offer, which was made through Raisio UK, translates into €1.61 ($2.21) for every ordinary share of Glisten.

The acquisition will provide Glisten stakeholders with certainty amidst the shaky economic backdrop, the company said.

Raisio CEO Matti Rihko said Glisten is compatible with Raisio’s business and growth strategy.

“This offer to Glisten’s shareholders represents a first and important step forward for the Raisio group in its international expansion,” he said.

“The acquisition provides both companies with good opportunities for growth in the UK market as well as in Raisio’s existing market areas by combining synergies of brands and products.”

The Finnish plant-based foods specialist’s offer is subject to approval by Glisten stakeholders.

The total cash acquisition is likely to be completed at the beginning of the second quarter of this year.