IN BRIEF: McBride completes acquisition of Eurotab Group
McBride PLC - Manchester, England-based private-label products manufacturer - Announces that its Unit dosing division completes the acquisition of Eurotab Group, with an enterprise value on completion of EUR35.6 million. Eurotab is a specialist in the design and manufacture of solid-format cleaning and hygiene solutions, primarily serving private label and certain contract manufacturing markets, McBride says. McBride Chief Executive Officer Chris Smith says: "The acquisition is expected to reinforce the strong market position of McBride's Unit Dosing division in the European detergent market and bring meaningful scale to the group. The transaction offers numerous opportunities for the division, including two new categories that will broaden our product and customer offering, while deepening relationships with key retail customers. It will also provide access to new markets.
"We expect the acquisition to be immediately earnings accretive from completion with the potential to drive further value through the delivery of meaningful synergies. This transaction reflects our continued confidence in the long-term value of the business."
Current stock price: 156.92 pence each, up 0.5% on Thursday around noon in London
12-month change: up 2.6%
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