Inter Link Foods expansion moves

Inter Link Foods has made its first step into continental Europe, with the purchase of a Polish cake and biscuit maker. The cake manufacturer will pay a maximum of £1.17m to acquire Cukiernia Mistrza Jana, a private company based in Szczecin, Poland. The terms are an initial £700,000 in cash and the issue of 32,600 new Inter Link shares worth £200,816.
A deferred consideration of up to £270,000 will be based on trading results for the year to December 31 and the outcome of a grant application.
In the nine months to September 30, CMJ made a pre-tax profit of £184,000 on turnover of £3.8m. Net assets at that date were £1.52m.