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Australian childcare group ABC Learning Centres has continued its shift into the US market, today confirming the $US66 million ($A86.7 million) purchase of Texas-based provider Children's Courtyard LP.
Children's Courtyard, the ninth largest childcare company in the US, opened in 1986 and operates 74 centres in Texas with the capacity to serve up to 12,000 children.
The takeover comes as ABC continues a refurbishment program of its US-based subsidiary, Learning Care Group, and will allow Children's Courtyard to operate under its existing name.
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ABC's global operations chief executive Eddy Groves said the takeover would help increase ABC's presence in the fragmented US market.
"With the addition of the Children's Courtyard centres, the number of US centres owned by ABC Learning expands from 343 to 417, an increase of 21 per cent," Mr Groves said.
"This demonstrates the continuing growth opportunities in the United States where the childcare market is very fragmented with no company having more than 3 per cent of the market."
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- reprinted from The Age