Oil-Dri to Acquire Ultra Pet in Strategic Move to Compete in Rapidly Growing Crystal Cat Litter Market [Yahoo! Finance]
Oil-Dri Corporation Of America (ODC)
US:NYSE Investor Relations:
investors.oildri.com
Company Research
Source: Yahoo! Finance
including clay-based cat litter, announced today that it has entered into a definitive agreement to acquire privately-held Ultra Pet Company, Inc. (“Ultra Pet”), a prominent supplier of silica gel-based crystal cat litter. Under the terms of the agreement, Oil-Dri will acquire Ultra Pet for $46 million in cash. Oil-Dri plans to finance this acquisition through a combination of cash-on-hand and its existing credit facilities. The board of directors of Oil-Dri and the managers of Ultra Pet's parent company have unanimously approved the transaction which is expected to close in Oil-Dri's fourth quarter of fiscal year 2024, after satisfaction of customary closing conditions. Oil-Dri expects this transaction to be immediately accretive to earnings following the completion of the transaction. Ultra Pet, headquartered in Anderson, South Carolina, is a recognized innovator and pioneer within the alternative cat litter market with annual net sales of approximately $24 million. Ultra Pet in
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- Oil-Dri Completes Strategic Acquisition of Ultra Pet, Strengthening its Position in the Cat Litter Industry [Yahoo! Finance]Yahoo! Finance
- Oil-Dri Completes Strategic Acquisition of Ultra Pet, Strengthening its Position in the Cat Litter IndustryGlobeNewswire
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ODC
Sec Filings
- 5/1/24 - Form 8-K
- 4/16/24 - Form 8-K
- 3/21/24 - Form 4
- ODC's page on the SEC website