G8 Education (ASX:GEM) has acquired 19 early education and childcare centres for $27 million.
The childcare services provider has acquired a portfolio of six new centres in Queensland, five in New South Wales and eight in Victoria.
The centres are expected to contribute approximately $1 million in EBIT for the FY2017.
The acquisition represents a 3.75 multiple of its $7.2 million EBIT.
Shares in G8 Education (ASX:GEM) closed flat at $3.77.