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Dished End buy will cost Hdaco up to R79m

Companies
Pretoria – Hudaco, the listed industrial and automotive consumable products distributor, has acquired manufacturer Dished End for a maximum of R79 million. The company said on Monday it had acquired Dished End’s trading assets and liabilities effective from the beginning of this month.

It said the final total purchase price would depend on the average profits over a three-year earn-out period.

Hudaco added that it had made an initial payment of R36 million for the company, which manufactured dished ends, which were the end caps on pressure vessels.

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Read also: Hudaco battles to recover R490m

Hudaco said the transaction was below the threshold for a category two transaction, which required disclosure in terms of the JSE’s listing requirements, but believed it appropriate to inform shareholders about the transaction.

BUSINESS REPORT

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