LONDON (dpa-AFX) - Euromoney Institutional Investor Plc (ERM.L), a B2B information services provider, announced Monday the acquisition of The Jacobsen for $12.25 million.
Jacobsen, a Price Reporting Agency or PRA, provides price assessments and forecasts primarily in North American markets. It provides coverage of animal fats, feeds and vegetable oils as well as feedstocks for low-carbon intensive fuels, representing the intersection of agriculture and new energy. The Jacobsen generated sales of $2.4 million for fiscal 2020.
Euromoney said this is a highly complementary, strategic bolt-on acquisition for its Fastmarkets PRA business which accelerates its 3.0 strategy. The acquisition further expands Euromoney's presence in the US biofuel markets.
Raju Daswani, CEO Fastmarkets, said, 'The acquisition of The Jacobsen is an important step in extending the reach and industry coverage of Fastmarkets: it will enhance our important and strategic position in the agriculture market and strengthens our position in North America. As part of Fastmarkets, The Jacobsen will develop this position further by leveraging our expertise in pricing and gaining access to our global PRA infrastructure.'
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