Elders (ASX:ELD) has announced the acquisition of Eureka.

With this move, the company has acquired the assets of the Eureka group.

This new business venture is expected to add approximately A$2 million EBIT to Elders' consolidated earnings in FY24.

It’s also confirmed that the key management of Eureka will remain with the business.

Furthermore, the purchase consideration is contingent upon the earn out performance over the next two years.

Elders is an agriculture and farming company, headquartered in Australia.