Halo Food Co To Acquire The Healthy Mummy – Key Highlights
- Halo to acquire 100% of the issued share capital of leading digital health and wellness company, The Healthy Mummy, subject to satisfaction of conditions precedent including shareholder approval
- A fast growing, profitable and cash generative business, in FY21, THM recorded revenue of ~$21 million and normalised EBITDA of $4 million
- Acquisition price of $17.0 million and a $5.0 million earn-out, subject to revenue and EBITDA performance milestones
- Compelling FY21 upfront valuation acquisition multiple of 4.1x FY21 EV/EBITDA
- Highly strategic acquisition to deliver combined revenue of ~$84 million and normalised EBITDA of ~$5.7 million to the Company pre-synergies
- Over $800k in synergies expected to be realised from the manufacture of THM products in-house at Halo’s existing manufacturing facilities
- THM offers a differentiated product, service and digital distribution offering with substantial cross-selling opportunities for existing Halo brands, driving organic growth
- Halo receives binding commitments for $3.5m million Placement to institutional and sophisticated investors and will launch a $3.0m SPP to existing eligible shareholders
