
Final purchase price for the acquisition of Milmeq
Mercer Group Limited (‘MGL’) announces today the final purchase price for the acquisition of the Chilling and Freezing business of Milmeq (‘Milmeq’).
Mercer Group Limited (‘MGL’) announces today the final purchase price for the acquisition of the Chilling and Freezing business of Milmeq (‘Milmeq’).
Mercer Group Limited (‘MGL’) announces today the final purchase price for the acquisition of the Chilling and Freezing business of Milmeq (‘Milmeq’).
As previously noted, the acquisition of Milmeq was structured as a sale and purchase of business and related assets, including a $1m interest free working capital facility. The final purchase price was to be determined by way of earn out in the period from settlement (28 February 2019) to 31 December 2019.
MGL has agreed the following regarding the earn out:
Since the acquisition was announced in December last year, Milmeq has secured over $30m of orders, which will be delivered over the next 12-month period. This is significantly ahead of forecast.
By way of update of the other businesses in the group, H&C Automated Solutions continues its positive trajectory and has strong workloads through to the end of the financial year. Mercer Stainless has had a strong start to the financial year, but the outlook for the remainder of the year to 30 June 2020 is weaker due to a softer dairy investment climate.
19 February 2021
15 January 2021
14 January 2021
16 December 2020
01 October 2020
21 September 2020
01 September 2020
26 August 2020
25 August 2020
25 August 2020
21 May 2020
04 May 2020
09 April 2020
24 March 2020
05 March 2020
20 February 2020
20 February 2020
24 October 2019
24 October 2019
12 October 2019
23 August 2019
23 August 2019
26 February 2019
07 December 2018
30 November 2018
08 October 2018
29 August 2018
29 August 2018