Anpario PLC Acquisition (9221V)
03 February 2017 - 6:00PM
UK Regulatory
TIDMANP
RNS Number : 9221V
Anpario PLC
03 February 2017
Anpario plc
("Anpario" or "the Company")
ANPARIO PLC ACQUIRES AUSTRALIAN DISTRIBUTOR - COBBETT PTY
Anpario plc, the international producer and distributor of
natural feed additives for animal health, hygiene and nutrition is
pleased to announce the acquisition of the business and assets of
Cobbett Pty Ltd. Cobbett has been Anpario's distributor since 1987
supplying Australia, New Zealand and Papua New Guinea with a number
of Anpario's key product brands including: Salkil, pHorce, Neutox,
Mycostat and Mastercube.
In the year to 30 June 2016 Cobbett had sales of A$1.76m. The
initial consideration is for A$700,000 plus stock as valued plus a
further A$300,000 should the business achieve certain profit
targets over a 12 month earnout period. A significant proportion of
Cobbett's business is with the Anpario product range, which drove
the logic for the acquisition. However, Cobbett also distributes
other complementary products which it will continue to do so and we
look forward to continuing these supplier relationships.
The acquisition of Cobbett is very much in line with our
strategy to strengthen our sales and distribution channels and
develop closer relationships with end users of our products.
Anpario strives to respond and make decisions quickly to ensure our
customers receive the best technical support and service possible.
Acquiring Cobbett helps us to better deliver a responsive and
proactive customer care ethos.
The Anpario team is looking forward to working with the Cobbett
team and its customers and suppliers in the region.
Further to the acquisition, Anpario would also like to take this
opportunity to highlight its recent rebranding exercise as part of
a process to phase out the individual trading brands. Consolidating
into a single brand will enable Anpario to communicate more
effectively in terms of our corporate vision, philosophy and values
as well as concentrating more marketing and R&D spend behind
one brand rather than three. In line with this process, Anpario
have launched a new Global website that can be found at
www.anpario.com.
Anpario plc
Richard Edwards Chief Executive Officer +44(0) 777 6417 129
Karen Prior Finance Director +44(0) 190 9537 380
Peel Hunt LLP +44(0) 207 4188 900
Adrian Trimmings
George Sellar
This information is provided by RNS
The company news service from the London Stock Exchange
END
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