Universal Corp.

NYSE:UVV   3:59:57 PM EDT
59.90
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Debt Financing / Related, Other Pre-Announcement, Mergers / Acquisitions

Universal Corporation To Acquire Silva International

Published: 09/08/2020 11:49 GMT
Universal Corp. (UVV) - Universal Corporation to Acquire Silva International, a Market-leading Provider of Natural, Specialty Dehydrated Vegetable, Fruit and Herb Ingredients.
Universal Corp - Deal for $170 Million in Cash.
Universal Corp - Following Close of Transaction, Silva Will Operate As Part of Co's Plant-based Ingredients Platform.
Universal Corp - Anticipates Silva Acquisition Will Be Accretive to Earnings in First Fiscal Year Following Closing.
Universal Corp - Expects to Fund Silva Transaction With Cash on Hand and Borrowings Under Its Committed Revolving Credit Facility.
Universal - Expects to Maintain Investment Grade Credit Rating and Remains Committed to Increasing Quarterly Dividend on an Annual Basis.
Universal Corp - Following Close of Silva Deal, Kent Devries, President of Silva, Will Continue to Run Business.