Universal completes acquisition of Shank's Extracts, expanding flavors and ingredients platform

UNIVERSAL CORP /VA/

Completed acquisition of Shank's Extracts, a specialty flavoring and ingredient company with bottling/packaging.
Shank's offers over 2,400 extracts, flavors, and colors; 200+ employees; 191,000 sq ft facility in Lancaster, PA.
Acquisition expands Universal's plant-based ingredients platform; funded with cash on hand and existing borrowing.
No purchase price disclosed; previously announced in September 2021.

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