M&A - JANEL CORP

Form Type: 10-Q

Filing Date: 2025-02-07

Corporate Action: Acquisition

Type: Update

Accession Number: 000114036125003593

Filing Summary: Janel Corporation reports its financial results for the quarter ended December 31, 2024, highlighting an acquisition strategy aimed at enhancing growth through both organic increases and targeted business combinations. The company successfully completed the acquisition of Airschott, Inc. in June 2024, obtaining an 80% stake for a total price of $5,810. This acquisition was aimed at expanding services within the Logistics segment, reflecting Janel’s commitment to strategic growth via reasonable pricing, strong management teams, and stable earnings potential. The financial statements reveal significant increases in revenue, with a total of $51,354 reported for the quarter compared to $41,035 in the same quarter of the previous year. Net income for the quarter was $659,000, a result of effective management and operational efficiencies. Additionally, the Company holds an interest in ViraQuest, further diversifying its Life Sciences segment. Janel's balance sheet indicates a total of $111,246 in assets, comprised of current assets and goodwill from acquisitions, which supports its ongoing operational strategies. The document notes that Janel is implementing high-risk adjusted capital allocations, aimed at maximizing shareholder returns while controlling liabilities across its segments.

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