Uvenco UK, the joint venture business between Glimmer Europe and Uvenco Russia (Eastern Europe’s largest operator of vending machines), confirms that SnackTime plc is one of its potential acquisition targets in the UK.
Uvenco UK’s CEO and Chairman, Blair Jenkins, was SnackTime’s founder and Chief Executive Officer from company inception in Sept 2001 until May 2012.
Following unusual movements in SnackTime’s share price on Wednesday, the takeover panel required SnackTime to make a public announcement about potential suitors of the business. SnackTime confirmed that it is in discussions with Uvenco UK.
Blair Jenkins, Uvenco UK’s Chairman, said, ‘Discussions are at an early stage with SnackTime and we have yet to fully evaluate the commercial viability of the project. We prefer to keep our acquisition discussions with target companies private and confidential and well away from public view. Regrettably in the case of SnackTime, there was speculation on share dealing blogs on Wednesday, which meant that both the takeover panel and SnackTime had to act in the best interests of an orderly market and therefore make our acquisition discussions public knowledge. We respect this decision.’