April 13 (Reuters) - Gibraltar Growth Corp GBGa.TO
* Gibraltar Growth Corporation announces the proposed acquisition of LXR Produits de luxe international as its qualifying acquisition
* Gibraltar Growth Corp says acquisition by Gibraltar growth of all issued and outstanding shares of LXR for an aggregate purchase price of $82.5 million
* Gibraltar Growth Corp says as a result of acquisition, LXR will become a wholly-owned subsidiary of Gibraltar growth
* Gibraltar Growth Corp - assuming redemption levels of 50 percent and 100 percent, founders of lxr will own 23 percent and 35 percent of resulting company, respectively
* Gibraltar Growth Corp says following closing of acquisition, LXR will continue to be led by its founders Fred Mannella and Kei Izawa
* Gibraltar Growth - cam di prata, co-ceo and director, will assume role of executive chairman, will continue as a director of resulting company
* Gibraltar Growth Corp - acquisition will introduce LXR as a publicly-listed company
* It is expected that up to an additional two independent directors will be added following closing
* Jeremy Stepak, current cfo, will act as chief financial officer of resulting company on an interim basis
* Gibraltar Growth Corp - has secured support of over 52% of disinterested shareholders for acquisition Source text for Eikon: ID:nCNWvKM0ta Further company coverage: GBGa.TO