News blog
SnackTime
- BY: Andrew Hore |
- POSTED: 16/09/2009 |
SnackTime is buying the trademark and assets to snack and chilled drinks provider Snack in The Box (SITB) for £1.5m.
This sparked a 6p rise in the shares to 125p each, which values the vending machines operator at £9.36m.
SITB is 14 years old and has more than 5,000 vending sites and 10,000 honesty boxes. The holding company made profits of £301,000 on revenues of £3.38m in the year to March 2009.
The acquisition means that SnackTime will operate on more than 20,000 customer sites in the UK and Ireland.
The acquisition is expected to be earnings enhancing in the year to March 2011 and there will be economies of scale. Further acquisitions are planned.
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