Taking a big bite
Inter Link Foods has acquired 100 percent of the issued share capital of Cukiernia Mistrza Jana, a company based in Szczecin, in northwest Poland.
It is being sold for an initial payment of zł.4.27 million cash, and the issue of 32,600 new shares in Inter Link with a value of zł.1.22 million.
In addition, deferred consideration totalling up to zł.1.65 million is payable based on trading results for 2004, and the outcome of a grant application.
The total maximum consideration payable is more than zł.7.13 million.
A spokesman said: "All of the employees, including an experienced management team, will be remaining with the company."
The managing director of CMJ will report directly to Paul Griffiths, chief executive of Inter Link Foods.
CMJ operates from a 70,000 square foot factory with considerable spare capacity. Inter Link says: "It is our intention to use part of this new capacity to manufacture a range of products in Poland for UK customers."
CMJ currently supplies major multiple retailers and wholesalers throughout Europe but most of its customers are in Poland and neighboring Eastern European countries.
(L.M., Reuters)
It is being sold for an initial payment of zł.4.27 million cash, and the issue of 32,600 new shares in Inter Link with a value of zł.1.22 million.
In addition, deferred consideration totalling up to zł.1.65 million is payable based on trading results for 2004, and the outcome of a grant application.
The total maximum consideration payable is more than zł.7.13 million.
A spokesman said: "All of the employees, including an experienced management team, will be remaining with the company."
The managing director of CMJ will report directly to Paul Griffiths, chief executive of Inter Link Foods.
CMJ operates from a 70,000 square foot factory with considerable spare capacity. Inter Link says: "It is our intention to use part of this new capacity to manufacture a range of products in Poland for UK customers."
CMJ currently supplies major multiple retailers and wholesalers throughout Europe but most of its customers are in Poland and neighboring Eastern European countries.
(L.M., Reuters)
