JB Hi-Fi Limited (ASX:JBH) entered into an agreement to acquire 75% stake in E. & S. Trading Co. (Discounts) Pty. Ltd. for AUD 47.8 million on August 9, 2024.

Initial acquisition of 75% for cash consideration of AUD 47.8 million on a cash-free / debt-free basis. Put and call option arrangement in place for the acquisition of the remaining 25% in September 2029. E. & S. The acquisition will be funded through existing cash reserves.

Trading in FY24 revenue of circa AUD 230 million revenue and normalised pre AASB16 EBITDA of circa AUD 7 million. Rob Sinclair to continue as Managing Director of the business. Completion of the acquisition is subject to customary completion conditions and is expected to occur in September 2024