Australia's Pure Foods Tasmania rises on deal with plant-based ice cream firm

Pure Foods Tasmania

31/03/2021 01:56

** Shares of Pure Foods Tasmania  PFT.AX  jump as much as
4.4% to A$0.825, their highest since Feb 23
    ** The food products manufacturer announces that it agreed
to acquire Tasmanian plant-based ice cream business, The Cashew
Creamery (TCC) urn:newsml:reuters.com:*:nASX9b2L4R
    ** Says TCC has experienced rapid growth, with year-to-date
sales as at March 9, 2021 growing over 50% on the previous
corresponding period
    ** PFT expects the acquisition to be completed on April 1,
2021
    ** Stock posts its biggest intraday pct gain since March 23
    ** Stock down 23.7% this year, as of last close
    
  

 (Reporting by Vasudha Kaukuntla in Bengaluru)
 ((Vasudha.Kaukuntla@thomsonreuters.com))