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Hancock & Gore Limited ( (AU:HNG) ) has shared an announcement.
Hancock & Gore Limited has acquired Trutex Group, a well-established UK schoolwear brand with over 150 years of heritage and a presence in more than 35 countries. This acquisition, valued at approximately $26 million, is expected to significantly enhance H&G’s operational scale and provide new international market opportunities. The acquisition is fully funded from H&G’s balance sheet, and the integration of Trutex with H&G’s existing operations, such as Schoolblazer UK and Mountcastle, is anticipated to create synergies worth $1.5 million within two years. This strategic move positions H&G for increased revenue and EBITDA, with a path to a pro-forma revenue of approximately $200 million.
More about Hancock & Gore Limited
Hancock & Gore Limited operates in the schoolwear industry, providing school uniforms and related products. The company focuses on expanding its market presence through strategic acquisitions and enhancing its operational scale.
Average Trading Volume: 257,148
Technical Sentiment Signal: Sell
Current Market Cap: A$135.6M
For an in-depth examination of HNG stock, go to TipRanks’ Overview page.