12 July 2016
Halo Foods acquired from Raisio
Halo Foods is the leading UK manufacturer of healthy snack bars
With an agreement signed on 12 July 2016 Raisio Group has sold Halo Foods ltd to hands-on investor Nimbus.
CEO Matti Rihko says that Raisio will withdraw from manufacturing of snack bars marketed to consumers under its partners’ brands and focus on the development and marketing of proprietary branded products. “For Raisio, it is important to expand the range of its branded products in line with consumer needs, not to produce itself all the products in the range.”
Key assets of Halo Foods include its factories in Newport and Swindon as well as the Dormen brand. Also all employees, some 300 persons, have been transferred to the new owner.
Halo Foods became part of Raisio through the Glisten acquisition in 2010. The company is a manufacturer of its partners’ branded products. Raisio had centralised the production of its snack bars to Newport and the packaging of nibbles and nuts to the Swindon factory. Halo Foods generated turnover of EUR 18 million in period January – June 2016.
Raisio plc is an international specialist in plant-based nutrition. Raisio’s operations are divided into two divisions: Brands and Raisioagro. The Group’s key market areas are Finland, Great Britain, the Czech Republic, Russia and Poland. Markets for cholesterol lowering Benecol products are global. Raisio plc’s shares are listed on Nasdaq Helsinki Ltd.