Singaporean based Mindchamps announces 8 more centres to be purchased in Sydney
Mindchamps PreSchool Limited (Mindchamps) has confirmed that it has entered into an agreement to purchase eight early learning centres in and around Sydney.
The centres located in the suburbs of Mascot, Parramatta, Albion Park, West Hoxton, Kemps Creek and Shellharbour will bring the total number of Mindchamps centres in Australia to 20.
Mindchamps Preschool, originally founded as an educational research centre in Sydney, has since evolved into an early learning business with a growing global presence that includes centres in the United Arab Emirates, Myanmar, Vietnam, Dubai and the Philippines as well as Singapore and Australia.
Once completed the company will have 82 centres globally.
In its 2018 full year results released in March the company confirmed a growing contribution from its Australian operations, with revenue from Australian centres making up 32 per cent of the Group’s total revenue.
The latest round of acquisitions is expected to have a significant positive impact on the Group’s earnings per share for the financial year ending 31 December 2019.