1st Feb 2021 08:36
(Alliance News) -Â Euromoney Institutional Investor PLC on Monday said it is buying The Jacobsen for USD12.3 million to bolster its price reporting agency business.
The Jacobsen is a price reporting agency providing price assessments and forecasts primarily in North American markets, including coverage of animal fats, feeds and vegetable oils as well as feedstocks for low-carbon intensive fuels.
The Jacobsen generated sales of USD2.4 million in 2020.
"This is a highly complementary, strategic bolt-on acquisition for the group's PRA business which accelerates its 3.0 strategy. The Jacobsen adds scale to Fastmarkets' position in agriculture following the recent acquisition of AgriCensus," said Euromoney.
Low-carbon intensive fuels and the intersection of new energy and agriculture present "attractive market opportunities", Euromoney added.
Shares in the London-listed financial publishing and event organisation firm were up 1.4% at 967.00 pence in London on Monday.
By Lucy Heming;Â [email protected]
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