Toronto-listed lottery supplier Pollard Banknote has signed a definitive agreement to acquire Iowa-based lottery ticket dispenser provider Schafer Systems for US$23.5m.
Founded in 1986, Schafer is a leading supplier of lottery ticket dispensers and has partnered with all 44 existing US lotteries and over 50 lotteries in other countries during its three decades in business.
Pollard Banknote will pay $23.5m to acquire the business, which will be funded from existing cash resources and availability under the company’s existing senior [...]
