Apiam Animal Health (ASX:AHX)
has entered a deal to purchase AllStock (NSW) Pty Ltd for $1.75 million.
Apiam says this acquisition will add to its genetics and assisted reproduction services, in line with its growth strategy.
The company says AllStock is based in Dubbo, and is in the animal reproduction service business – providing embryo transfer and artificial insemination to the sheep and goat industries.
The company also expects the acquisition to be earnings accretive, and payment will be made via a combination of 70% cash and 30% scrip.
Apiam Animal Health reported a net profit of $93,000 at 30 June 2016.