Oil-Dri To Acquire Ultra Pet Company For $46M In Cash, Pans to Finance Acquisition With Cash On Hand And Existing Credit Facilities; Expected To Close In Oil-Dri's Fiscal Q4
Portfolio Pulse from Benzinga Newsdesk
Oil-Dri Corporation of America (ODC) announced its plan to acquire Ultra Pet Company for $46 million in cash. The acquisition is to be financed through cash on hand and existing credit facilities, with an expected closure in Oil-Dri's fiscal Q4.
April 16, 2024 | 8:13 pm
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Oil-Dri Corporation of America plans to acquire Ultra Pet Company for $46 million, intending to finance the acquisition with cash on hand and existing credit facilities, aiming for a fiscal Q4 closure.
The acquisition of Ultra Pet by Oil-Dri represents a significant strategic move, likely to expand Oil-Dri's product portfolio and market share. Financing the acquisition through cash and credit facilities suggests a strong financial position. Expected to close in fiscal Q4, this move could positively impact ODC's stock in the short term due to investor optimism about growth prospects and financial stability.
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