Ansell Limited (ASX:ANN) has acquired a privately owned Brazilian company for $US77 Million.
Hercules is a leading manufacturer of Personal Protective Equipment (PPE) in Brazil with annual sales of approximately $US30 million.
It has wide distribution across Brazil, having experienced growth on the back of Brazil’s growing economy and increasing workplace safety focus.
Ansell CEO Magnus Nicolin says the acquisition strengthens the glove and condom makers presence in one of the world’s major emerging markets.
The transaction is expected to close by early January at the latest, and carries the potential for an additional earn-out payment incentive tied to profit growth.
Ansell generated a net profit of $133 million in the 2012 financial year.
ANN Price at posting:
$15.46 Sentiment: None Disclosure: Held
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