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Acquisition doubles IG's US business again

The group has made a second significant deal in the US
Acquisition doubles IG's US business again

IG Design (IGR) is betting on the US. More than a year after its acquisition of Impact Innovations, which doubled the size of its business in the country, the group has once again inked a deal to build out its presence in North America, doubling it once again.

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The group will buy CSS industries for $9.40 (£7.20) per share, representing an enterprise value of roughly £89.7m. The deal will “substantially” increase IG’s manufacturing and distribution capabilities, as well as strengthening its position in the gift packaging market. To fund the deal, the group completed a £120m accelerated bookbuild.