The expansion of listed childcare centre companies continues in Australia: Kids Campus Ltd has signed a letter of intent to acquire 9 centres in Victoria & South-east Queensland, and expects to complete agreements on a further 5 centres this week.
Purchase of the 9 centres will cost $A11 million in cash plus $A2 million of shares. The acquisitions will take Kids’ business to 67 centres (4818 licensed places). It also has development agreements for 50 centres to be built in the next 2 years, for another 5500 places. It began the year with childcare centres containing just 1000 places.