Valmont To Acquire HR Products, Australian Leader In Irrigation Parts; No Financial Details Were Disclosed
Portfolio Pulse from Happy Mohamed
Valmont Industries, Inc. (NYSE:VMI) has announced its plans to acquire HR Products, a leading wholesale supplier of irrigation parts in Australia. The acquisition is part of Valmont's global agriculture growth strategy and is expected to expand its geographic footprint and parts presence in a key agriculture market. The transaction, which will be funded with cash on hand, is expected to be immediately accretive to earnings, with Year 1 revenue of approximately US $45 million. The deal is expected to close in the third quarter of 2023.
July 07, 2023 | 12:17 pm
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Valmont's acquisition of HR Products is expected to expand its presence in the agriculture market and boost its revenues. The deal is expected to be immediately accretive to earnings, indicating a positive short-term impact on the company's stock.
The acquisition of HR Products is a strategic move by Valmont to expand its presence in the agriculture market. The deal is expected to be immediately accretive to earnings, which is likely to have a positive impact on the company's stock in the short term. Furthermore, the expected addition of $45 million to its Year 1 revenue indicates a significant boost to the company's financial performance.
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