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Norcros ( (GB:NXR) ) has provided an announcement.
Norcros plc, a prominent bathroom products company, has announced the acquisition of Fibo Holding AS, a leading supplier of waterproof decorative wall panels, for approximately £45 million. This acquisition aligns with Norcros’ strategy to expand in high-growth product segments and will enhance its presence in the European market, particularly in Scandinavia and central Europe. The integration of Fibo Group is expected to create a leading European waterproof wall coverings division, leveraging Fibo’s established market routes and management expertise. The acquisition is anticipated to be earnings accretive in the first year and will be financed through Norcros’ existing credit facility, with the transaction subject to regulatory approval.
The most recent analyst rating on (GB:NXR) stock is a Buy with a £375.00 price target. To see the full list of analyst forecasts on Norcros stock, see the GB:NXR Stock Forecast page.
Spark’s Take on GB:NXR Stock
According to Spark, TipRanks’ AI Analyst, GB:NXR is a Neutral.
Norcros demonstrates positive technical momentum and effective strategic initiatives, contributing to a favorable outlook. However, financial performance concerns, particularly related to profitability and leverage, as well as high valuation metrics, somewhat dampen the overall score. The strong dividend yield and positive corporate developments provide additional support.
To see Spark’s full report on GB:NXR stock, click here.
More about Norcros
Norcros is a leading group specializing in design-led, sustainable bathroom products across the UK, Ireland, South Africa, and select export markets. The company offers mid-premium product ranges known for innovation, design, and sustainability, supported by industry-leading service. Norcros has grown through strategic acquisitions and organic development, becoming the top bathroom products group in the UK and Ireland. It includes brands such as Triton, Merlyn, Grant Westfield, Vado, Croydex, and Abode in the UK, and Tile Africa, TAL, and House of Plumbing in South Africa.
Average Trading Volume: 245,470
Technical Sentiment Signal: Buy
Current Market Cap: £245.2M
Learn more about NXR stock on TipRanks’ Stock Analysis page.