10th Jul 2015 07:07
LONDON (Alliance News) - Collagen products maker Devro PLC on Friday said it has signed a deal to acquire PV Industries BV for up to EUR13.5 million.
Devro said PV Industries is a Netherlands-based manufacturer of collagen gel products for the meat processing industry.
It will pay EUR12.5 million initially, with another EUR1 million due under an earn-out arrangement.
"This acquisition supports Devro's strategy by growing sales of collagen products through product differentiation and enhancing value for customers. It will strengthen our presence in Europe, extending our product knowledge and technical expertise in a specialist sector," said Devro Finance Director Simon Webb.
Shares in Devro were down 0.1% to 308.392 pence just after the open on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
DVO.L