Supreme PLC on Monday said it will buy Acorn Topco Ltd, the parent company of Clearly Drinks Ltd.
The Manchester, England-based consumer products manufacturer and supplier said it expects the £15 million acquisition to ‘be immediately earnings enhancing for Supreme.’
Supreme noted that in 2023, Clearly reported revenue of £22.4 million and adjusted earnings before interest, tax, depreciation and amortisation of £3.0 million, with further growth expected for 2024.
Chief Executive Officer Sandy Chadha said: ‘We are delighted to be acquiring Clearly, a high-quality manufacturer and brand owner of soft drinks, which I believe delivers a significant component of our broader diversification strategy.’
Supreme shares rose 4.5% to 143.65 pence each on Monday morning in London.
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