Australia's Ricegrowers hits 5-year high on acquiring dog food firm

Ricegrowers

23/07/2024 03:38

** Shares of Ricegrowers  SGLLV.AX  rise as much as 3% to
A$8.00, their highest since April 9, 2019 
    ** Co set to gain for fourth straight day 
    ** The rice co says it will acquire SavourLife, which
specialises in premium dog food and treats, for A$20.3 million
($13.48 million)
    ** Co adds Savourlife acquisition is expected to be
accretive its earnings in FY25 
    ** Stock has risen 20.1% this year, as of last close


($1 = 1.5063 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))