The shareholders of Franchise Brands have approved the proposed all share acquisition of Filta Group Holdings which values the restaurant industry supplier at £49.8m.
Under the terms of the acquisition, Filta shareholders will be will be entitled to receive 1.157 new Franchise Brands shares in exchange for each Filta share.
Franchise Brands currently has a combined network of more than 425 franchisees across five principal brands in the UK.
Filta Group plc (LON:FLTA) is a market-leading, commercial kitchen services business, servicing restaurants, supermarkets, stadiums, healthcare, education, hotels and amusement parks. Trusted by many global brands, they specialise in Fryer Management and Grease & Drain Management, servicing businesses that require regular maintenance.