24th Jun 2024 10:40
(Alliance News) - Supreme PLC on Monday said it will buy Acorn Topco Ltd, the parent company of Clearly Drinks Ltd.
The Manchester, England-based consumer products manufacturer and supplier said it expects the GBP15 million acquisition to "be immediately earnings enhancing for Supreme."
Supreme noted that in 2023, Clearly reported revenue of GBP22.4 million and adjusted earnings before interest, tax, depreciation and amortisation of GBP3.0 million, with further growth expected for 2024.
Chief Executive Officer Sandy Chadha said: "We are delighted to be acquiring Clearly, a high-quality manufacturer and brand owner of soft drinks, which I believe delivers a significant component of our broader diversification strategy."
Supreme shares rose 4.5% to 143.65 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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