Acquisition

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 [phone]
Karen Prior Finance Director                  [phone]

Peel Hunt LLP                                    [phone]

Adrian Trimmings

George Sellar

 

END

 

 

ACQOKBDPABKDNBK