Savor Limited (NZSE:SVR) agreed to acquire 3 venues from Hipgroup Limited for NZD 10 million on March 9, 2021. Under the terms of consideration, there will be a cash payment of NZD 7.2 million on completion, NZD 1 million of ordinary shares in Savor Limited to be issued on completion, and a deferred cash payment of NZD 2.9 million to be paid 12 months from completion. The transaction is accretive to Group earnings with expected circa $3 million of operating earnings (or EBITDA) of annual trading. The transaction will be funded through additional debt financing and new equity capital of NZD 6 million already fully underwritten to support growth and strengthen the balance sheet. The acquisition of Hipgroup is dependent on debt funding arrangements and is expected to settle on April 8, 2021.