CK LIFE SCIENCES INT'L., (HOLDINGS) INC. 
By
(5 January, 2012 - Hong Kong) - CK Life Sciences Int'l.,
(Holdings) Inc. ("CK Life Sciences") announced that it has
entered into an agreement to acquire the businesses of the
Peaty Trading Group, comprising Barmac Pty Ltd, Globe
Australia Pty Ltd, Globe Equipment Solutions Pty Ltd, and
certain assets of Rickwood Pty Ltd (collectively referred to
as "Peaty" or the "Companies") in
Australia. Total consideration for the acquisition is A$31.34
million, approximately HK$252 million.
Peaty's businesses encompass a vertically integrated
producer, wholesaler and distributor of plant protection,
specialty fertilisers and pest control products for the
professional turf, agricultural, horticultural and urban pest
control markets with operations across Australia.
With origins dating back over 55 years in the Australian
agriculture market, Peaty is a leading supplier of products
and services in the professional turf management industry and
the pest management industry. Not only does Peaty enjoy a
good reputation, the Companies also boast a good financial
track record. In the last financial year ending 30 June 2011,
Peaty generated over
A$3.27 million, approximately HK$26 million of unaudited
consolidated profit.
Mr. HL Kam, President and Chief Executive Officer of CK Life
Sciences said, "We are very pleased with the acquisition of
Peaty. This transaction marks CK Life Sciences' first
acquisition in the year
2012, following closely the purchases of Challenger Wine
Trust and Qualco West Vineyard in
February and October 2011 respectively."
"This investment has good growth potential and provides us
with immediate cash flow contributions. It will also enable
synergy to be achieved in relation to sales and costs,
bringing about substantial operation and financial benefits
to CK Life Sciences' existing operations. These are all
consistent
with our acquisition growth strategy," Mr. Kam continued.
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"This acquisition will strengthen CK Life Sciences' market
coverage in its agriculture-related business in Australia, as
well as bring to CK Life Sciences an extensive customer base
and distribution network," Mr. Kam expressed.
"With the inclusion of Peaty to our portfolio, CK Life
Sciences will become one of the largest suppliers of
agricultural products and services in Australia, particularly
in turf management, home garden products and pest
management," Mr. Kam added.
"We are delighted to add Peaty to our Australian portfolio of
agricultural-related investments. CK Life Sciences will
continue to seek new investment opportunities to further
expand our businesses in the vineyard, turf and pesticide
industries, as well as in other fields in the future," Mr.
Kam concluded.
The transaction is expected to be completed in the first
quarter of 2012.
- End -
CK Life Sciences Int'l., (Holdings) Inc. is a listed
company on The Stock Exchange of Hong Kong Limited (stock
code: 0775). Bearing the mission of improving the quality of
life, the Company is engaged in the business of research and
development, commercialisation, marketing and sale of health
and agriculture related products. CK Life Sciences is a
member of the Cheung Kong Group.
For additional information, please visit www.ck-lifesciences.com.
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| distribué par | Ce noodl a été diffusé par CK Life Sciences International Holdings Inc. et initialement mise en ligne sur le site http://www.ck-lifesciences.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-06 04:45:19 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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