Modular and transportable building manufacturer Fleetwood Corporation has bought New South Wales-based aluminium tray and automotive accessories manufacturer Bocar in a deal worth $4.75 million.
Fleetwood said the acquisition increased the NSW scale of its Flexiglass subsidiary significantly, while also giving it the opportunity to distribute Bocar products nationwide.
Bocar was established around 25 years ago.
Fleetwood said it would fund the acquisition through its existing debt facilities with Westpac.
At close of trade today, Fleetwood shares were up 1.39 per cent, at $2.19.