Norcros buys South Africa's RAP Plumbing Supplies for up to £12.1m

Writer, Stock Market Wire
Wednesday, January 16, 2019 - 14:16

Bathroom and kitchen product supplier Norcros said its South African unit had agreed to acquire RAP Plumbing Supplies for up to 215m rand (£12.1m).

The deal with the target's directors, employees and other private investors remained subject to South African antitrust approval.

An initial payment of 172m rand would be settled on completion, with the rest payable in two years via an earn-out mechanism.

At 2:16pm: (LON:NXR) Norcros PLC share price was +0.5p at 195.5p


Related content

Norcros profit up 17% on higher kitchen, bathroom product sales

Bathroom and kitchen products supplier Norcros posted a rise in annual profit, as market share gains helped boost revenue.

Pre-tax profit rose by 17% to...

Wed, 13/06/2018 - 07:59


Norcros expects 10.7% revenue lift, to cut 50 jobs in tiles unit

Bathroom products supplier Norcros said its annual revenue was expected to grow by around 10.7% following its acquisition of Merlyn.

The company, however, said it...

Wed, 11/04/2018 - 07:53


High hopes for South Africa-focused stocks after president change

South Africa is the latest country to be closely watched by UK investors. A decent number of companies doing business in that part of the...

Thu, 22/02/2018 - 00:00


Shares in bathroom firm look like a real bargain

Author: 

Bathroom fit-out firm Norcos (NXR) continues to look undervalued as it progresses a plan to become a ‘one-stop-shop’ for bathroom fittings and accessories....

Thu, 30/11/2017 - 00:00


All resolutions passed at GM of Norcros

Norcros has confirmed that all resolutions, regarding the proposed acquisition of Merlyn Industries and the associated Capital Raising, were passed by shareholders at today's General...

Wed, 22/11/2017 - 14:02