Lakeland Industries Agrees To Acquire Fire And Rescue Business Of LHD Group And Its Hong Kong And Australian Subsidiaries In All-Cash Transaction Valued At $16.7M
Portfolio Pulse from Benzinga Newsdesk
Lakeland Industries (LAKE) has agreed to acquire the Fire and Rescue business of LHD Group, including its Hong Kong and Australian subsidiaries, in an all-cash transaction valued at $16.7 million. The deal is expected to close in May, pending regulatory approvals and other customary closing conditions.
April 02, 2024 | 9:19 pm
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Lakeland Industries is acquiring the Fire and Rescue business of LHD Group, including its Hong Kong and Australian subsidiaries, for $16.7 million in cash. The transaction is expected to close in May.
The acquisition of LHD Group's Fire and Rescue business represents a strategic expansion for Lakeland Industries, potentially enhancing its product offerings and market presence, especially in Hong Kong and Australia. The all-cash nature of the deal indicates a strong financial position. Assuming successful closure, this could positively impact investor sentiment and LAKE's stock price in the short term.
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