News: Affinity Education buys 16 centres for $45M

.

Affinity Education Group Limited (ASX:AFJ) is poised to buy 16 more childcare centres for $45 million. 

 

The provider of education and child care services says the acquisitions include a large group of premium centres in metropolitan areas. 

 

Affinity expects the purchases to be tied up in the first quarter of next year and to be earnings accretive upon settlement. 

 

CEO Justin Laboo says the acquisitions top off a great year for the company and he believes a strong platform has now been created for continued growth.  

 

Affinity Education Group reported a net loss of $5 million in the first half of the 2014 financial year.