Advanta acquires US co for $10.5 mn
Advanta India has acquired 100 per cent stake in Garrison & Townsend, US for $10.5 million.
By INDIATIMES NEWS NETWORK |
MUMBAI: Advanta India has acquired 100 per cent stake in Garrison & Townsend, US for $10.5 million. Garrison is a hybrid grain and forage sorghum research, production, conditioning marketing and selling company. This acquisition bolsters Advanta���s presence in sorghum mainly in the US and strengthens its presence world wide.
Garrison & Townsend has strong presence in grain sorghum and makes for about 32 per cent of its revenue. Forage sorghum, BMR sorghum and sorghum-Sudan make up about 67 per cent of its revenue. In fiscal year 2007, Garrison and Townsend achieved sales of $11 million. Its products are marketed throughout the US as well as in Italy, Israel, Pakistan, Mexico, Central America, South America and Japan. Ten largest customers of Garrison contribute about 60 per cent of its revenue.
At 11:07 am, Advanta shares were up 1.64 per cent at Rs 1,030 on BSE.
Garrison & Townsend has strong presence in grain sorghum and makes for about 32 per cent of its revenue. Forage sorghum, BMR sorghum and sorghum-Sudan make up about 67 per cent of its revenue. In fiscal year 2007, Garrison and Townsend achieved sales of $11 million. Its products are marketed throughout the US as well as in Italy, Israel, Pakistan, Mexico, Central America, South America and Japan. Ten largest customers of Garrison contribute about 60 per cent of its revenue.
At 11:07 am, Advanta shares were up 1.64 per cent at Rs 1,030 on BSE.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
