Associated British Foods plc (ABF), says it has reached agreement with UK breakfast cereal and cereal bar business, W Jordan & Son (Silo) Limited (Jordans), to merge the Jordans business with its Ryvita crispbread and healthy snacks business.
ABF will have a 62% interest in the combined business with the balance held by the existing shareholders of Jordans.
The Jordan family will remain fully involved in the business.
Completion is subject to certain regulatory clearances and is expected to take place during the third quarter of 2008.
Jordans is a successful and leading breakfast cereal and cereal bar business in the UK.
It was founded by the Jordan family from whom ABF acquired a 20% shareholding last year.
The combination of Jordans and Ryvita will create a leading position for the supply of products to meet the increasing consumer demand for natural ingredients and healthy eating.
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