Big River expands west with acquisition, equity raise

Big River Industries Limited (ASX:BRI) announced the acquisition of John's Building Supplies for up to A$17.0 million, targeting completion around December 15, 2025. This move strengthens Big River's presence in Western Australia, aligning with its strategy to focus on trade customers in key growth segments. The acquisition will be funded by an upfront consideration of A$15.0 million (A$13.0 million cash and A$2.0 million in Big River shares), with a further A$2.0 million contingent on EBITDA thresholds.

To partially fund this acquisition, Big River is undertaking a fully underwritten ~$10 million pro rata renounceable entitlement offer of new shares at A$1.37 per share, representing a 2.1 percent discount to the 10-day VWAP. The offer allows eligible shareholders to subscribe for 3 new shares for every 35 existing shares held, with trading of entitlements commencing on December 3, 2025 and closing on December 10, 2025.

The entitlement offer is fully underwritten by Petra Capital Pty Ltd, with major shareholders and key management committing to subscribe for at least 70% of their entitlements. The acquisition is expected to be immediately earnings accretive pre-synergies and enhance the Group's capabilities in interiors and cladding, providing a platform for cross-selling manufactured products. The issue date for new shares is anticipated to be December 24, 2025, with normal trading commencing on December 29, 2025.