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Origin Enterprises (OGN)

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Origin Enterprises to buy fertiliser company for 18.2m

07 Mar 17

LONDON (ShareCast) - (ShareCast News) - Ireland-based agri-services group Origin Enterprises is to buy Bunn Fertiliser for up to 18.2m, in order to expand its fertiliser capacity.
The acquisition, which is subject to clearance from the Competition and Markets Authority in the UK, would extend Origin's existing fertiliser blending activities, as well as its customer service capabilities, and enable it to optimise operation and logistic efficiencies.

As part of the deal, Origin will buy Bunn, on a debt and cash free basis, for 14.2m in cash on completion with the total transaction coming to about 18.2m.

Bunn's turnover for 2016 was 127.7m and maintainable earnings before interest and tax was about 2.8m.

Origin chief executive Tom O'Mahony said: "Bunn is an excellent business with a dedicated commitment to addressing the crop yield, quality and soil fertility requirements of primary producers. Bunn advances the group's capacity to manage supply chain complexity as well as providing complementary customer and product channel access."

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Market Data

Currency Euro
Price  3.55
Change Today  0.00
52 Week High  5.65
52 Week Low  3.38
Volume 368
Shares Issued 125.58m
Market Cap  445.82m


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Ex-Div 28-Nov-19 28-Mar-19
Paid 13-Dec-19 12-Apr-19
Amount 18.17¢ 3.15¢