UK Feed Additive Producer Anpario Acquires Australian Distributor.
M2 EQUITYBITES-February 6, 2017-UK Feed Additive Producer Anpario Acquires Australian Distributor
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6 February 2017 - UK-based natural feed additives producer and distributor Anpario plc (LSE: ANP) has acquired the business and assets of Australian distributor Cobbett Pty Ltd, the company said.
Cobbett has been Anpario's distributor since 1987 supplying Australia, New Zealand and Papua New Guinea with a number of Anpario's key product brands including: Salkil, pHorce, Neutox, Mycostat and Mastercube.
In the year to 30 June 2016 Cobbett had sales of AUD 1.76m.
The initial consideration is for AUD 700,000 (USD 536,900) plus stock as valued plus a further AUD 300,000 should the business achieve certain profit targets over a 12 month earnout period.
A significant proportion of Cobbett's business is with the Anpario product range, which drove the logic for the acquisition. However, Cobbett also distributes other complementary products which it will continue to do so and we look forward to continuing these supplier relationships.
The acquisition of Cobbett is very much in line with our strategy to strengthen our sales and distribution channels and develop closer relationships with end users of our products.
Anpario is an international producer and distributor of natural feed additives for animal health, hygiene and nutrition.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Feb 6, 2017|
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