G8 Education Limited
(ASX:GEM) says its latest $228 million acquisition will see its centre portfolio jump by my more than 28 per cent.
The provider of developmental and educational child care services will acquire Sterling Early Education and 91 childcare and education centres from a number of different vendors.
Settlement will occur over the next months and by the end of September G8 expects its licensed places will have increased from about 6,200 to almost 28,000.
G8 Education says it will be operating 388 Australian centres by September 30, which will deliver $39.4 million of annualised centre based EBIT in the 2015 financial year.
The latest acquisition comes just one month after G8 inked contracts to buy 63 Australian childcare and education centres for about $105.
G8 Education reported a net profit of $31 million in the full 2013 financial year.
