SNACKS and sweets group Glisten has been bought today by Finnish food company Raiso Group in a deal which values it at £19.8m.

The Leeds-based group's acquisition will result in shareholders receiving £1.40 for each share.

Raiso Group has established a new company named Bidco to make the acquisition.

Upon completion of the deal, Raisio will hold 85% of all the shares in Bidco while Glisten's existing management team - Paul Simmonds and Robert Davies - will hold a 15% stake.

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