- Big River Industries (BRI) is acquiring Epping Timber Joinery & Hardware and Epping Timber Prefab for up to $6 million
- BRI says for almost 60 years, Victoria-based Epping Timber has been a reputable trade distribution business with a loyal customer base and strong supplier relationships
- Big River says the acquisition gives it “enhanced” access to Melbourne’s growing suburbs and regional Victoria
- The company expects the acquisition to be earnings-per-share-accretive from year one, and it will be funded from Big River’s existing debt facilities
- Big River shares are up 2.36 per cent to $2.17 at 10:31 am AEDT
Big River Industries (BRI) has entered an agreement to acquire the trading business and assets of Epping Timber Joinery & Hardware and Epping Timber Prefab.
BRI said that based in Victoria, Epping Timber had been operating for 57 years and had since grown a reputable trade distribution business with a loyal customer base and strong supplier relationships.
Big River said the acquisition gave it “enhanced access” to the growing northern suburbs of Melbourne and the Ballarat area of regional Victoria.
With annual revenue exceeding $16 million, Epping Timber is also expected to complement the company’s existing Victorian sites at Geelong, Dandenong, Dandenong South and Campbellfield.
Big River CEO Jim Bindon said the acquisition “ensures the longevity of the Chincarini family legacy built over their 57 years in business”.
“Big River looks forward to bringing our national product range, supplier relationships and capabilities to further enhance the customer offering, and we look forward to continuing the long-term partnership that customers, suppliers and the staff have enjoyed with Epping Timber,” Mr Bindon said.
The acquisition price is up to $6 million, which includes a cash component and additional earn-out payments over a two-year period if certain profit growth targets are achieved.
The acquisition is expected to be earnings-per-share-accretive from year one, and it will be funded from the company’s existing debt facilities.
Big River shares were up 2.36 per cent to $2.17 at 10:31 am AEDT.