McBride (LON: MCB), the private-label and contract-manufacturing household goods maker, saw its shares jump as much as 16% in early trade today after announcing a long-term manufacturing partnership with Vestacy, owner of Air Wick, Calgon, Cillit Bang and Mortein.
The stock opened at 183p and rose to an intraday high of 199.07p, a fresh 52-week high, before settling around 194p. That is up 15.89% against Thursday’s close of 167.4p.
McBride said in an RNS this morning that it has agreed two long-term contract manufacturing agreements with Vestacy, lasting five to eight years, alongside the acquisition of two Vestacy manufacturing sites in Spain and Portugal for nominal consideration. Completion is expected in early 2027, with the sites fully operational by early 2028. Chief executive Chris Smith said the deal reflected “a disciplined application of our capital allocation framework, driving profitable growth that directly aligns with our strategic priorities while we continue to return capital to shareholders through our share buyback programme.”
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The agreement is expected to generate £170m of annualised revenue at maturity in the second half of the 2028 financial year, lifting group revenue by around 15%. It is structured to be capital-light for McBride: Vestacy will fund roughly £34m of equipment costs, while McBride’s own outlay is limited to about £17m in transition and capital expenditure, with net debt expected to rise by up to £25m at its peak during the transition period. The deal also pushes McBride’s contract-manufacturing revenue mix beyond the 25% target it set out at its 2024 Capital Markets Day.
McBride’s market capitalisation stands at approximately £284m following today’s move, with the shares trading at a fresh 52-week high after a sharp one-day re-rating.
