Glisten to acquire Halo

A north Wales food company has accepted a takeover bid worth an estimated £6m. Halo Foods Group, based in Gwynedd, is one of the UK`s largest producers of specialist nutritional snack bars. The buyers, Glisten plc, are a group of English food companies. The firm`s chief executive has said there will be no job losses as a result of the move. The deal could be worth a further £8m depending on performances in 2005 and 2006. Glisten will also take over current bank borrowings of around £6m.
Halo Foods manufactures around 200 million bars from its production sites at Tywyn and Newport.