bullish
Ricegrowers Ltd - A branded addition to the CopRice stable
SUMMARY
- RaaS has published an update report on agri-FMCG group Ricegrowers, trading as SunRice (ASX:SGLLV) following the announced acquisition of SavourLife, a premium branded dog food manufacturer and distributor for $20.3m.
- SavourLife has a unique go-to-market social mission to rehome abandoned dogs and donates 50% of profit to support this cause.
- The acquisition price implies 7.3x EBITDA after provision for donations, which is a discount to our assessed peer group average of 9,1x FY24f.
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