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Squarefield acted as exclusive financial advisor to Nimbus on the acquisition of Halo Foods from Raisio

Raisio Group has sold Halo Foods to Dutch investors Nimbus. With the signing of the agreement, Halo Foods’ business in the UK has been transferred to hands-on investor Nimbus.

Explaining the Finnish food group’s reasons for selling the leading UK health snack manufacturer, Raisio CEO Matti Rihko said that his company plans to focus on the development and marketing of its own proprietary branded products and will, as such, withdraw from the manufacturing of snack bars marketed under its partners’ brands. Rihko said: “For Raisio, it is more important to expand the range of our branded products in line with consumer needs, rather than producing all the products in the range ourselves.”

Halo Foods

Halo Foods was part of Raisio for approximately six years following the Glisten acquisition in 2010. The company is a manufacturer of its partners’ branded products. Raisio centralised the production of its snack bars in Newport and the packaging of nibbles and nuts at its Swindon factory. Halo Foods generated turnover of €18 million in the period January – June 2016.