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Carr’s Group plc ( (GB:CARR) ) just unveiled an announcement.
Carr’s Group plc has announced the sale of its Engineering Division to Cadre Holdings, Inc. for £75 million, a move aimed at simplifying its business structure and focusing solely on its agriculture operations. This strategic decision is expected to unlock significant shareholder value, allowing Carr’s to concentrate investments in its Agriculture Division, enhance financial flexibility, and drive growth in its specialized livestock supplement products. The company plans to return up to £70 million to shareholders through a tender offer, reflecting its commitment to delivering shareholder value as it transitions to a pure-play agriculture business.
More about Carr’s Group plc
Carr’s Group plc operates within the agriculture sector, primarily manufacturing and selling livestock supplements such as feed licks, blocks, bagged minerals, and boluses. The company has a global presence, providing its products under five leading brands across over 20 countries.
YTD Price Performance: -3.85%
Average Trading Volume: 29,886
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £106.2M
See more insights into CARR stock on TipRanks’ Stock Analysis page.
