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McBride PLC (LSE:MCB)  has secured a major contract manufacturing partnership across Europe, prompting analysts at Peel Hunt to significantly raise their price objective. The shares jumped 16.49% to 195p as the City broker reiterated its 'buy' recommendation and raised its target from 190p to 230p.

McBride PLC (LSE:MCB) has secured a long-term strategic manufacturing partnership with Vestacy that is expected to generate annualised revenue of around £170 million at maturity and increase group revenue by approximately 15%. The household cleaning products manufacturer said the agreement covers contracts lasting between five and eight years and includes the acquisition of two Vestacy manufacturing facilities in Spain and Portugal for nominal consideration.