Big River Industries Limited entered into an agreement to acquire Trading Business and Assets of Epping Timber Joinery & Hardware Co. Pty. Ltd. and Epping Timber Prefab Pty Ltd for AUD 6 million.

Big River Industries Limited (ASX:BRI) entered into an agreement to acquire Trading Business and Assets of Epping Timber Joinery & Hardware Co. Pty. Ltd. and Epping Timber Prefab Pty Ltd for AUD 6 million on November 14, 2022.

Total consideration of AUD 6 million includes a cash component at completion with additional earn-out payments over a two-year period if certain profit growth targets are achieved. Epping Timber has a Annual revenue of AUD 16 million. Consideration will be funded from the Company's existing debt facilities.

The acquisition is subject to normal conditions precedent. The transaction is expected to complete by end of December, 2022. The acquisition is expected to be earnings per share accretive from year one.