RWC Expands with Holman Industries Acquisition

Reliance Worldwide Corporation Limited (ASX: RWC) has finalized an agreement to acquire Holman Industries for A$160 million. Holman, a leading Australian manufacturer and distributor of plumbing and watering products, will significantly broaden RWC's product range and distribution network, particularly in the Australian plumbing market.

The acquisition, anticipated to be EPS accretive from the first year, is expected to enhance RWC's market position and double its annual net external sales in the Asia Pacific region. With Holman's expertise in water-out plumbing products and strong retail distribution, RWC aims for increased sales growth and cost savings through synergy. Founder Wally Edwards will stay on board for two years post-acquisition. RWC CEO Heath Sharp sees this move as pivotal in aligning with RWC's growth strategy and strengthening its presence in the water-out market segment.

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