Australian poultry producer Inghams Group rises after announcing acquisition

Inghams

07/03/2024 03:19

** Shares of Inghams Group  ING.AX  rise as much as 1.9% to
A$3.680, their biggest intraday pct gain since Feb. 27
    ** Poultry producer says it will acquire Bostock Brothers,
an organic chicken business in New Zealand, for NZ$35.3 mln
($21.7 mln)
    ** Co sees acquisition to be EPS accretive to FY25 earnings
    ** Stock down ~9% YTD


($1 = 1.6295 New Zealand dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))