UK ice cream maker Richmond Foods has announced that it has made an agreement to acquire the entire issued share capital of Oldfields Ice Cream.
Go deeper with GlobalData
Sheffield-based Oldfields, which specialises in catering products and two-litre tubs of ice cream, reported pre-tax profit of £0.3m (US$0.5m) for 2002, on turnover of £5.4m, reported the Financial Times. At the end of 2002, the company had net assets of £2.6m.
Richmond is to buy the company for £3.95m in cash, with £0.15m deferred until November 2003 and £0.4m deferred until June 2004.
