Costa Group Holdings Limited (ASX:CGC) entered into binding agreement to acquire Business and Assets of 2PH Farms Pty Ltd for approximately AUD 200 million on June 23, 2021. Costa will pay the consideration in cash. Costa will pay an additional AUD 31 million in July 2023 for the purchase of the ‘Conaghans’ property, where a new citrus crop is currently being planted by 2PH, subject to certain conditions. The total upfront funding requirement is approximately AUD 219 million (including stamp duty and transaction costs) and is to be funded with the proceeds of a fully underwritten pro rata accelerated renounceable entitlement offer with retail rights trading to raise AUD 190 million 1 for 6.33 pro rata accelerated renounceable entitlement offer and existing debt facilities. The transaction is subject to satisfaction of customary conditions and is expected to be completed by late July 2021. As of June 28, 2021, successful completion of the institutional component of the offer of approximately $114 million was announced and these funds were used to partially fund the completion payment. The retail component of the entitlement offer is expected to be completed on 27 July 2021 and will be used to pay down the additional drawings from existing debt facilities that were used to fund the completion payment. The transaction would be earnings accretive, boosting earnings per share by approximately 10% in CY21. UBS acted as financial adviser and King & Wood acted as legal adviser to Costa. Costa Group Holdings Limited (ASX:CGC) completed the acquisition of Business and Assets of 2PH Farms Pty Ltd on July 19, 2021.