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.
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Source: Finance News Network
