Ricegrowers Limited (ASX:SGLLV) entered into a securities purchase agreement to acquire Pryde's Easifeed Pty Ltd for AUD 38 million on December 23, 2021. Post completion, Pryde will continue in his role as Managing Director of Pryde's EasiFeed, alongside other Pryde family members who will remain in the business. The transaction is subject to satisfaction of a number of conditions precedent with completion anticipated at the end of January 2022. The purchase price will be funded from existing cash reserves and available debt facilities. The business generated revenue of AUD 30.1 million in the financial year ended June 30, 2021. Earnings per share accretive in the first full financial year of ownership. Ernst & Young Australia acted as financial and tax due diligence provider to Ricegrowers Limited.