Stealth Global Holdings Ltd (ASX: SGI) is acquiring United Tools for $24k cash & a deferred market subsidy of $1.25m over 2-years
Stealth Global Holdings Ltd (ASX:SGI) has announced it is expanding its Australian retail footprint, buying power and market position through the acquisition of all the shares in United Tools Ltd (UTL) for $24,000 cash plus a deferred market subsidy of $1.25m over two-years. United Tools is one of Australia’s largest buying & distributing co-operatives of independent retailers, selling tools, industrial and trade related products to business and retail customers. The acquisition will see Stealth’s store network double from 33 to 66, enhance scalability and strengthen market position to expand through further opportunities.
Following the announcement, shares of Stealth Global Holdings Ltd soared 13.79% to $0.16/share.
Read the full story
in the Grafa app
To read the full article and more in the Grafa app, available on all app stores.
Track the trends
Get the hot tips first
Stay close to your investments
Learn to trade like a pro
Let your money entertain you
See more stories like this
48% of businesses say they will not raise prices, primarily due to the desire to...read more