K-Bro Linen (TSE:KBL) has released an update.
K-Bro Linen Inc. has expanded its UK market presence by acquiring Shortridge Ltd., a North West England-based hospitality laundry provider, for £24.1 million and potential additional earn-out. The acquisition, which includes key real estate assets, is set to be accretive and is funded through K-Bro’s increased debt facility. K-Bro aims to maintain Shortridge’s branding and team, signaling a strategic move to diversify and grow its customer base in the UK.
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