Diversified Royalty

Diversified Royalty has signed a binding agreement to buy the Mr. Lube + Tires franchise business in Canada for C$235 million. Financing will consist of cash, existing and new credit facilities, plus a share distribution and management reinvestments; the latter will retain roughly 4% of the buyer. With the acquisition, Diversified Royalty will assume franchise and supplier agreements for 187 locations; the combined business is estimated to generate an adjusted EBITDA of about C$58.7 million in the twelve months after closing. The board is keeping the annualized dividend at C$0.285 and expects the deal to close by the end of Q2 2026, subject to regulatory approvals. » Altro su de.investing.com