Pace’s hens lay 16.8 million eggs a week from its 32 locations in NSW and ACT. All those eggs give the company a sweet 31 per cent market share in Australia, via Woolies, Coles and the like.
They also boil down to about $40 million on the EBITDA line and a $108 million odd property portfolio.
It wouldn’t be surprising if tyre kickers are drawn out by Pace’s property portfolio, besides the eggs.
The founders of Australia’s second-largest egg producer Pace Farms have put the company on the block, chasing a private equity or strategic buyer to take a stake in the company or buy it in full.
It looks like vendors from last year’s listings will be stuck with their blocks longer than expected, as the IPO class of 2021’s struggles to beat their offer prices.
Takeover target Genex Power and suitor Skip Capital/Stonepeak’s talks about a new bid were said to be progressing on Monday night, with both sides expecting a deal worth about 25¢ a share.
FTI Consulting has hired corporate advisory boutique amicaa to chase asset divestment or recapitalisation for gold play Wiluna Mining, which called in voluntary administrators on July 20.
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