Universal corporation to acquire silva international

Universal corporation to acquire silva international, a market-leading provider of natural, specialty dehydrated vegetable, fruit and herb ingredients.universal corp - deal for $170 million in cash.universal corp - following close of transaction, silva will operate as part of co's plant-based ingredients platform.universal corp - anticipates silva acquisition will be accretive to earnings in first fiscal year following closing.universal corp - expects to fund silva transaction with cash on hand and borrowings under its committed revolving credit facility.universal - expects to maintain investment grade credit rating and remains committed to increasing quarterly dividend on an annual basis.universal corp - following close of silva deal, kent devries, president of silva, will continue to run business.
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