UPGS’s announcement that it is acquiring Salter, the UK’s oldest housewares brand and notable for its scales, is a major positive step. The acquisition not only creates enlarged, outright ownership of a key brand and expands UPGS’s kitchen and bathroom offering, but also establishes a foothold in health & lifestyle. Moreover, the deal appears attractively priced for UPGS shareholders. Assuming completion, we raise our fair value for UPGS shares from 200p to 275p.
25 Jun 2021
UPGS to acquire UK’s oldest housewares brand
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UPGS to acquire UK’s oldest housewares brand
Ultimate Products PLC (ULTP:LON) | 172 12.9 4.5% | Mkt Cap: 154.1m
- Published:
25 Jun 2021 -
Author:
Hannah Crowe | Chris Wickham -
Pages:
13
UPGS’s announcement that it is acquiring Salter, the UK’s oldest housewares brand and notable for its scales, is a major positive step. The acquisition not only creates enlarged, outright ownership of a key brand and expands UPGS’s kitchen and bathroom offering, but also establishes a foothold in health & lifestyle. Moreover, the deal appears attractively priced for UPGS shareholders. Assuming completion, we raise our fair value for UPGS shares from 200p to 275p.