Halo Foods eyes acquisition – report

Australia and New Zealand manufacturer Halo Food is seeking new capital and plans an acquisition according to media reports.

afr.com.au reported that a term sheet sent to investors stated that existing shareholder Bergen Special Opportunity Fund LP was to quit its holding in the company which planned a $3 million share placement and a $3 million share purchase plan.

The funds raised would be used to buy 12 year-old healthy eating and weight loss program The Healthy Mummy.

The capital raises and potential purchase had not been announced to the stock market this morning, however Halo has been in a trading halt since last week.

The placement and sell down were priced at 10 cents a share, a 23.1 per cent discount to the last sale price.

Halo manufactures home brand products for major supermarkets as well as marketing its own brands Gran’s, Key Dairy, Super Cubes and Tonik.

Picture: Halo Food Co

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