Adairs Limited Announced Acquisition of Mocka

  • Dec 04, 2019 AEDT
  • Team Kalkine

Adairs Limited (ASX: ADH) has entered into a binding agreement to acquire Mocka Limited for an initial enterprise value of approximately NZD80 million, subject to customary conditions.

  • The acquisition would increase online revenue to around 29% of total revenue.
  • The transaction would be funded through group term debt facilities and issue of ADH shares.
  • Pro forma full-year FY20 sales guidance including Mocka is revised to $400 to $415 million.

By 1:04 PM AEST, ADH was trading at $2.125, up by 19.71% from the last close.

 

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