Raisio, which owns the cholesterol-busting Benecol brand, said the deal would give it a stronger foothold in the branded snack and breakfast markets in Britain and Western Europe and strengthen its position in the UK confectionery market.
The UK will become the largest market area for Raisio’s food business with €140-150m annual net sales. Raisio acquired Glisten in a €22.8m deal at the beginning of 2010.
Big Bear owns the brands Honey Monster, Honey Waffles and Sugar Puffs. It was created in 2003 by Mario Giannotta, John Jackson, and Paul Wilkinson through the acquisition of Fox’s Confectionery from Northern Foods. It went on to acquire Sugar Puffs and Harvest Chewee cereal bars from PepsiCo in 2006.
Big Bear will be integrated into Raisio’s Western European brand operations.
© FoodBev Media Ltd 2024