G8 Education Limited
(ASX:GEM) has flagged the purchase of eight more premium childcare and education centres for just over $12 million.
The provider of developmental and educational child care services says it has contracts in place that give it the right to acquire the centres from a number of different vendors.
While the purchases remain subject to conditions the transactions are expected to settle before the end of September and will be funded from existing cash reserves.
G8 Education advises the transactions will increase the number of its places by 855 and take the total number of places in its Australian portfolio to more than 35,000 per day.
G8 Education reported a record net profit of $52.73 million in the 2014 calendar year.
