Zetar, the UK confectionery and snack foods company, has acquired Derwent Lynton for a maximum consideration of up to £0.8m. Based in Derby, Derwent Lynton is a chocolate confectionery manufacturer specialising in solid milk chocolate and chocolate flavour balls and eggs, hollow milk chocolate shapes, sugar-coated milk chocolate products including eggs & beans and chocolate drops.
Its operations will form part of Zetar’s confectionery division. In the year ended 30th June 2010, Derwent Lynton had sales of £4.2m and an operating profit of £114,000. At 30th June 2010 net assets amounted to £0.6 million.
“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,” comments Ian Blackburn, chief executive of Zetar. “This relatively small acquisition is Zetar’s first acquisition since 2007. We are continuing to review other small opportunities.”