BRIEF-Cara to buy St-Hubert for $537 million

Thu Mar 31, 2016 6:52am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

March 31 (Reuters) - Cara Operations Ltd

* Announces purchase Of St-Hubert

* Entered into a definitive agreement to acquire 100% of groupe St-Hubert Inc

* Deal for $537 million

* Transaction is immediately accretive to adjusted net earnings per share

* Combined businesses to achieve an estimated $10 million of annual run-rate synergies within 3 years

* Intends to finance acquisition with credit facility upsized to $700 million and $50 million from issuance of cara subordinate voting shares

* Scotiabank, syndicate of lenders have provided Cara with fully committed credit facilities for full purchase price plus transaction expenses

* As a result of St-Hubert acquisition, Cara now expects it will exceed its 5-7 year growth targets Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)