Zep Inc. (ZEP) Completes Hale Group Acquisition
Tweet
Share
E-mailGet Alerts ZEP Hot Sheet
Join SI Premium – FREE
Zep Inc. (NYSE: ZEP), announced that Zep Europe B.V., a wholly owned subsidiary of Zep Inc., completed the purchase of all of the shares of Hale Group Limited (“Hale Group”), based in the United Kingdom, effective January 31, 2012 for an undisclosed price. Hale Group’s two subsidiaries, Forward Chemicals Limited and Rexodan International Limited, are highly regarded manufacturers and suppliers of liquid, powder and aerosol chemicals and solutions direct to Industry and Commercial Laundries.
Zep Inc. financed the acquisition with cash on hand. Acquisition transaction costs will be reflected in the second quarter of fiscal 2012 as part of the incremental corporate development costs referenced during the first quarter earnings conference call. Excluding these acquisition transaction costs, this acquisition is expected to be earnings neutral in the current fiscal year.
Zep Inc. financed the acquisition with cash on hand. Acquisition transaction costs will be reflected in the second quarter of fiscal 2012 as part of the incremental corporate development costs referenced during the first quarter earnings conference call. Excluding these acquisition transaction costs, this acquisition is expected to be earnings neutral in the current fiscal year.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- UBS Upgrades Apollo Tyres (APTY:IN) to Buy
- Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
