Evolve Education Group Limited (ASX:EVO)
has settled six early childhood education centres, increasing its portfolio to 107 centres.
The acquisition of five of these centres results from Evolve exercising a first right of refusal in a licensing agreement, which was signed with the former owners of Lollipops centres prior to listing.
CEO, Alan Wham, says acquiring the centres is important for Evolve’s growth and long-term sustainability in the face of any new competition.
Mr Wham also confirmed that the five Lollipop centres will have a seamless transition into the Group and should be earnings positive in the first year.
Evolve remains in acquisition mode and has a number of centres under review.