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Cake Box Holdings ( (GB:CBOX) ) just unveiled an update.
Cake Box Holdings PLC has announced the acquisition of Ambala Foods Limited, a leading UK manufacturer and retailer of Asian sweets, for £22 million. This acquisition is expected to enhance Cake Box’s earnings immediately and expand its product range, leveraging synergies between the two brands. The acquisition will be financed through a combination of a £7 million share placing, a £15.2 million term loan, and existing cash resources. Additionally, Cake Box is offering a retail offer to existing shareholders to raise up to £0.2 million. This strategic move is anticipated to strengthen Cake Box’s market position and drive growth.
More about Cake Box Holdings
Cake Box Holdings PLC is the UK’s largest retailer of fresh cream celebration cakes. The company focuses on providing high-quality, innovative cake products and has been experiencing growth in sales and expansion in store openings.
Average Trading Volume: 38,834
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £76M
See more data about CBOX stock on TipRanks’ Stock Analysis page.