Zetar is to acquire Humdinger, the Hull-based dried fruit supplier whose clients include Tesco, Sainsbury's, Asda and Morrisons, for up to £13m. The deal consists of an initial £10m, with a further £3m subject to Humdinger's performance over the next two years. Humdinger was established in 2001 by a team of six people and now employs 93 staff. The management team have received approximately £1m in cash and shares, and will remain in place after the takeover. Humdinger was represented by a team from Leeds law firm Watson Burton, led by corporate finance partner Mark Warburton, and took advice on the deal from Grant Thornton accountant Ian Marwood.
