Big River Industries Limited (ASX:BRI) agreed to acquire assets and trading business from The Midland Timber Co Pty Ltd for AUD 2.4 million on April 26, 2019. Transaction will be funded through a mixture of cash and shares. As on May 1, 2019, the consideration for the acquisition will comprise AUD 2.1 million in cash which will be funded by existing working capital of Big River Industries Limited and 244,702 shares of new Big River Industries Limited. Sallie Schorer, one of the founders of the business, will remain for a short time to assist with the transition, while the General Manager, Dean Maringoni and all other staff will be retained as part of the move into the Big River Group. Transaction is earnings per share accretive. As on May 1, 2019, no Big River Industries Limited security holder approval is required for the acquisition to proceed and there are no changes to Big River Industries Limited's board or senior management as a result of the acquisition. The transaction is expected to close on or around May 1, 2019.