MELBOURNE, AUSTRALIA: DGL Group Limited (ASX: DGL) introduced the strategic acquisition of RLA Polymers NZ Limited (trading as Bondlast NZ Limited), a producer and distributor of high quality merchandise into the constructing and construction industries.
The acquisition price of $4.6 million consists of a money payment of $3.45 million and the balance by fully paid ordinary shares within the capital of DGL Group.
DGL is a specialist chemicals enterprise that manufactures, transports, shops and processes chemicals and hazardous waste.
Primary actions include manufacturing of artificial latex compounds, flooring adhesives, waterproofing sealants, ceramic tile adhesives and self-levelling cements for the constructing and construction industry.
RLA Polymers NZ has a strong home and worldwide buyer base, together with main construction companies and retail blue chips.
Founder and CEO of DGL, Simon Henry, said: “RLA Polymers New Zealand provides to DGL’s already established Trans-Tasman presence of over fifty four facilities stretching from Darwin to Christchurch.”
This strategic acquisition of RLA Polymers New Zealand additional enhances the capabilities of DGL’s Chemical Manufacturing segment in New Zealand, reinforcing the company’s goal to become main full-service chemical administration firm in Australia and New Zealand.
“Staff and administration will be retained to proceed to drive growth within the RLA Polymers NZ Limited enterprise and expand the technical capabilities of the broader DGL Group,” a bourse submitting said.
DGL Group would additionally like to advise that it has had a stronger than anticipated begin to the second half of FY22 and is persevering with to pursue additional acquisition opportunities.