Articore Group Acquires Frankly Wearing for $900,000, Concludes Strategic Review, Shares Down 3%

MT Newswires Live
03/24

Articore Group (ASX:ATG) acquired Frankly Wearing, an India-based creator-driven, print-on-demand marketplace for $900,000, as part of its strategy to enter India's print-on-demand market, according to a Tuesday Australian bourse filing.

The company will fund the deal with existing cash reserves. It does not expect the deal to impact its fiscal year 2026 underlying cash flow guidance of AU$8 million to AU$12 million. The company expects to close the deal by the end of May.

The company will pay 75% of the consideration at close and 25% earn-out at 18 months, tied to performance milestones.

After a strategic review, the company said it has affirmed that the disciplined execution of its strategic plan represents the most compelling path to long-term shareholder value, supported by the sustained improvement in operating performance and the establishment of building blocks expected to drive the next phase.

The company's shares fell 3% in recent Tuesday trade.

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