Halo Food agrees to acquire The Healthy Mummy

Halo Food agrees to acquire The Healthy Mummy

MELBOURNE: Halo Food Co. Limited (ASX: HLF) has signed a binding conditional agreement to acquire 100% of the issued share capital in leading digital health and wellness business, The Healthy Mummy Holdings Pty Limited (THM), for $17.0mn plus an earn-out.

Halo Food has received binding commitments for a placement of $3.5 million and will launch a Share Purchase Plan (SPP) to raise up to a further $3 million from existing eligible shareholders.

Halo Food Co. CEO, Danny Rotman, stated, “The acquisition of The Healthy Mummy is transformational, highly complementary and financially compelling for Halo Food Co.

The Healthy Mummy is an established, profitable, cash generative digital health and wellness business, with strong digital distribution channels and metrics focused on the health and wellness of mothers.

The business is a natural fit to the existing Halo business, increasing the lifetime value of customers to the group and adding high margin digital distribution channels and cross-sell capability that would otherwise take years to establish organically. I am excited to welcome Rhian Allen as CEO of The Healthy Mummy to the Halo group and look forward to the strength of the combined business moving forward and the value this creates for shareholders.”

“Halo has received binding commitments for a well-supported Placement of $3.5m to institutions, sophisticated investors and existing shareholders. We are very pleased with the level of interest from both new and existing shareholders as we continue to accelerate the growth and scale of the Halo group.”

Upon the announcement of the Acquisition, Rhian Allen, Founder and CEO of the Healthy Mummy said, “I am so excited to be able to join forces with Halo Food Co. and take The Healthy Mummy to a new level with a highly accredited and entrepreneurial partner.

By partnering with a world class health and wellness brand owner, developer and manufacturer in Halo, The Healthy Mummy will be able to accelerate the development of innovative and first to market nutritional products and increase our distribution of products across multiple retail channels.

Our incredible community of mums and their entire family are always our first priority and the acquisition and partnership with Halo, will only allow us to serve mums better.”

The Healthy Mummy was founded in 2010 by Rhian Allen and has grown to become one of the world’s leading health and wellness platforms for mothers, in FY21 generating ~$21 million in revenue and $4 million of normalised EBITDA.

THM’s fully integrated business model creates a unique and hard-to-replicate offering that provides everything a mother needs to change her lifestyle – including an engaged community of likeminded mums offering real-time support and encouragement.


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