Kresta Holdings Limited
(ASX:KRS) has inked a deal to purchase the Franklyn Blinds Awnings Security business.
Franklyn Blinds is described as a manufacturer and retailer of blinds, shutters, awning and security screens in Queensland.
Kresta will pay $10 million in cash for the business in addition to the value of stock held by Franklyn Blinds.
Kresta expects to complete the acquisition in February and for the asset to contribute to increasing the company’s turnover by about 30 per cent.
Kresta Holdings reported a net loss of $1.37 million in the 2014 financial year.
