The Bauer Partnership has signed a binding letter of intent to acquire the issued and outstanding shares of Wimbledon Unreal Grass Pty. Ltd - the Australian private company which specialises in synthetic grass.
The move by Bauer forms part of its plan to 'capitalise on the multi-billion dollar sports and leisure industry'.
Wimbledon Unreal Grass - headed by former president of Tennis Australia Wayne V Reid - has factories in Melbourne, and headquarters in Hong Kong.
Current estimated year-end revenues will exceed US$4m.
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