Brief: IVE Group Enters Fibre Based Packaging Sector With Strategic Acquisition Of Jacpak

Ive

25/10/2023 02:26

Oct 25 (Reuters) - IVE Group Ltd  IGL.AX :
    * ANNOUNCES ENTRY INTO FIBRE BASED PACKAGING SECTOR WITH
STRATEGIC
ACQUISITION OF JACPAK
    * ACQUISITION OF JACPAK FOR A$35 MILLION
    * CONSIDERATION WILL BE FUNDED VIA GROUP'S RECENTLY
ESTABLISHED
ACQUISITION FACILITY
    * JACPAK WILL CONTINUE TO OPERATE AS STANDALONE BUSINESS
FROM AN
OPERATIONAL PERSPECTIVE
    * ACQUISITION IS EXPECTED TO CONTRIBUTE POSITIVELY TO
EARNINGS IN
FY24
    * FOLLOWING SYNERGIES, BUSINESS IS EXPECTED TO DELIVER
EBITDA OF
AROUND A$8.4M AND NPAT OF AROUND A$3M

Source text for Eikon:  ID:nASXbWw18j 
Further company coverage:  IGL.AX 

 ((Reuters.Briefs@thomsonreuters.com;))