Inghams Group (ASX:ING) is experiencing a surge in share prices, up as much as 1.9% to A$3.680; the poultry producer’s benchmark intraday gain since February 27th.

This rise is in response to Inghams Group’s announcement that it is set to acquire Bostock Brothers, an organic chicken business in New Zealand, at a purchase price of NZ$35.3 million ($21.7 million).

Inghams Group expects that this acquisition will be EPS accretive to its FY25 earnings.

Despite this positive news, the company’s stock is down by approximately 9% this year to date.

Inghams Group (ASX:ING) is an Australian-based poultry producer.