Breville (ASX:BRG) acquires Baratza

02Oct

Breville (ASX:BRG) acquires Baratza

 

Kitchen appliance manufacturer, Breville Group (ASX:BRG) has acquired Baratza on a cash and debt free basis for approximately US$60 million.

Seatle based coffee grinding company Baratza designs and markets premium coffee grinders for North American and international markets.

Breville paid around US$43 million from existing cash reserves, and the remaining US$17 million by issuing additional shares in the company.

Shares in Breville Group (ASX:BRG) are trading 0.3 per cent higher at $25.97.

Copyright 2020 – Finance News Network


Source: Finance News Network

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