Raisio benefits from Glisten acquisition
18 August 2010 – Raisio has seen an increase of 23% in net sales in the first half of 2010 with strong growth in the Brands Division.
CEO Matti Rihko notes that the Group’s acquisition of British company Glisten and organic growth in the review period increased net sales and improved the EBIT as expected. The most considerable boost to net sales resulted from Glisten becoming a part of Raisio Group and its reporting. Moreover, Glisten’s profitability improved compared to the time of closing the deal.”
The company expects a considerable increase in net sales in 2010 as it implements a new strategy with a strong focus on establishing a firm foothold in healthy and ecological snacking in Europe. Rihko comments, “Raisio’s objective is to grow through acquisitions as well as by entering small and growing product categories and new market areas.”
Raisio Group’s net sales from continuing operations in April-June totalled €120 million, which is 22.6% more than in the comparison period. Glisten’s profitability improved year-over-year and reorganised its production by closing it’s factory in Liphook, Hampshire and transferring production to it’s Newport facility.
