RPM Automotive Acquires Direct Wholesale Tyres in Far North QLD
- RPM Automotive Group (RPM) acquires Direct Wholesale Tyres (DWT), expanding the company’s distribution footprint in Far North Queensland
- The company will pay a $1.7 million consideration for the acquisition, comprising 60 per cent cash and 40 per cent ordinary shares in RPM
- RPM says DWT will add scale to its existing operations and will be value and earnings per share accretive
- RPM said the acquisition strongly aligned to its growth strategy, which included expanding the business through accretive acquisitions
- Mr Finkelstein added the acquisition would be value and earnings per share accretive and was funded from RPM’s recent strategic investment
- Shares are down 6.6 per cent at 35 cents each at 3:45 pm AEST
