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.
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