The directors of G8 Education Limited (ASX: GEM) are pleased to announce settlement of Cozi Kids, Kids Start and Bumble Bee Schoolhouse. The acquisition was originally announced to the ASX on 26 August 2013 and 27 September 2013.
The purchase price for the three centres was $2.1 million including transaction costs. The acquisition was acquired on 4 times anticipated EBIT for the 12 months post settlement.
The acquisition was funded from existing cash reserves.