Franklin Electric announces Brazil acquisition Franklin Electric announced that it has acquired Bombas Leao based in Monte Azul Paulista, State of Sao Paulo, Brazil. In 2013 Bombas Leao net revenues were approximately $30M. The company believes the transaction will be accretive to FY14 EPS.
Franklin Electric increases share repurchase program to 3M shares Franklin Electric's board approved a stock repurchase program, authorizing the company to repurchase up to 3M shares of outstanding common stock. The board had previously authorized a share repurchase program under which the remaining authorized amount is approximately 535,000 shares. The company intends to complete the existing repurchase program before repurchasing shares under the new program.