GWA in bid to buy Methven

Company News

by Rachael Jones

Household consumer products distribution company GWA (ASX:GWA) has today taken a significant step towards strengthening its water solutions strategy and accelerated growth opportunities with the proposed acquisition of Methven, a company listed on the Main Board of NZX, via a scheme of arrangement.

Methven is a designer and manufacturer of showers, taps and valves based in Auckland.

The acquisition is consistent with GWA’s strategy to focus on superior water solutions.

The acquisition values Methven at $112 million on an equity value basis and will be funded from GWA’s existing debt facilities.

Shares in GWA (ASX:GWA) are 1.1 per cent higher to $2.80.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.