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Metcash completes acquisition July 05, 2012 10:25 AM

Metcash Limited (ASX:MTS) has confirmed it has completed the acquisition of spare parts business the Automotive Brands Group for $53.8 million.

The grocery wholesaler announced last week that it planned to acquire 75.1 per cent of the company which it expects to be earnings per share accretive in full year 2013.

Metcash raised $325 million through an institutional placement, geared towards acquisitions and capital expenditure.

Metcash generated a full year net profit of $ 98.2 million.

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