Lakeland Industries Announces The Acquisition Of Pacific Helmets In An All-Cash Transaction Valued At ~$8.5M
Portfolio Pulse from Benzinga Newsdesk
Lakeland Industries, Inc. (NASDAQ:LAKE) has acquired New Zealand-based Pacific Helmets NZ Limited for approximately $8.5 million in an all-cash deal. Pacific Helmets, a leading designer and manufacturer of safety helmets for various firefighting and rescue markets, will add $7-8 million in sales revenue to Lakeland's next fiscal year and is expected to be immediately accretive. The acquisition expands Lakeland's global fire services portfolio and presents cross-selling opportunities through Lakeland's sales and distribution channels.
November 30, 2023 | 9:26 pm
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Lakeland Industries' acquisition of Pacific Helmets is set to enhance its product offerings and is expected to contribute $7-8 million to its sales revenue in the next fiscal year. The strategic move aims to capitalize on cross-selling opportunities and expand its global reach, particularly in Australia and New Zealand.
The acquisition of Pacific Helmets by Lakeland Industries is likely to have a positive short-term impact on LAKE's stock price. The deal is expected to be immediately accretive, indicating a direct positive effect on earnings. Additionally, the $7-8 million projected increase in sales revenue for the next fiscal year suggests a significant boost to the company's financial performance. The strategic expansion of the product line and the potential for cross-selling through existing channels are likely to be viewed favorably by investors, supporting the potential for stock price appreciation.
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