Rik De Vos of McBride plc
The Manchester-headquartered supplier of private label household and personal care products is accelerating its growth plans following the £10.8m acquisition.
McBride has agreed to acquire Danlind, a supplier of auto dish-wash and laundry products, based in Denmark for £10.8m.
Danlind provides McBride with access to accelerated growth in the key strategic category of auto dish-wash tablets, through its well invested capacity, technology platform and high-quality product range.
The firm operates from three manufacturing sites in Denmark, and has approximately 250 employees.
For the year ended 31 December 2016, Danlind reported revenues of £58.4m, EBITDA of £1.6m, a loss before tax of £1.3m, and had gross assets of £48m as of 31 Dec 2016.
For its financial year ending 31 Dec 2017, on a standalone basis, Danlind is currently expected to generate c.£2.5m of EBITDA.
McBride expects to realise significant commercial, technical and operational improvement synergies from the acquisition.
Rik De Vos, McBride plc CEO, said: "With this acquisition, the combined resources and knowledge of the two companies will provide McBride with accelerated growth in several key categories and geographies and enable us to access new customers.
“The excellent operational and cultural fit between both companies gives the Board confidence that the integration of Danlind will be executed efficiently.
“This is a significant next step in the development of our strategy and will further support McBride's leading position in its chosen markets, whilst providing our customers with an increasingly better proposition."