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LONDON, Oct 5 (Reuters) - German foods group Zertus agreed to buy UK-based chocolate maker Zetar Plc in a 43 million pound ($70 million) deal that gives the group its first inroad into the British confectionary market.
Zertus will pay 297 pence per share for Zetar, which is listed on London's junior AIM market, a price that is around 26 percent above Zetar's Thursday closing price.
Zetar makes chocolates and snacks under licence for media brands like Disney and Hello Kitty, drinks brands such as Baileys and food brands like Marmite and Branston.
It listed in 2005, hitting a high of 590p in 2007. However, it lost 70 percent of its value during hard economic times in 2008 and has struggled to recover since then.
In 2012 the company reported adjusted pretax profit of 5.5 million pounds on sales of 128 million.
Zertus, which was founded in 1826 and owns the Dextro Energy and Loser wafer brands, said it would pay for the acquisition out of its cash resources. ($1 = 0.6176 British pounds)
(Reporting by Rosalba O'Brien; Editing by David Holmes)
Keywords: ZETAR ZERTUS/