JTC PLC (LSE:JTC) agreed to acquire FFP (Holdings) Limited for approximately $110 million on June 18, 2024. The total consideration of $110.0 million will be satisfied as follows a $70.0 million initial consideration comprising $56.0 million in cash and $14.0 million in new JTC ordinary shares; and afurther earn-out of up to $40.0 million will be payable in cash and JTC ordinary shares on the achievement of specific performance targets for the period ending 31 December 2024. The Acquisition will be accretive to Group margins and to EPS in 2024 and will deliver high-single digit accretion to EPS in 2025. For the year ended 31 December 2023, FFP generated revenue of $30.7 million (£24.2 million[1]) and adjusted net income of $16.9 million (£13.3 million). The gross assets of the subject of the transaction are $16.0m as at December 31, 2023 (£12.6 million). The senior management team at FFP will remain with JTC.

The transaction will be will be funded from the Group's cash reserves and existing debt facilities. The Acquisition remains subject to final regulatory approvals and satisfaction of other customary closing conditions..