Twin Disc, Inc. (TWIN), Tuesday announced the acquisition of British Columbia-based Kobelt Manufacturing Co. Ltd., a manufacturing company, for $16.5 million.
The acquisition is expected to diversify and enhance Twin Disc's portfolio in the industrial and marine sectors.
The deal is expected to be immediately accretive to the company's earnings.
In the pre-market hours, Twin Disc's stock is trading at $9.47, up 0.77 percent on the Nasdaq.
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