Elixinol Wellness (ASX: EXL) has entered into a binding Business Sale Agreement to acquire 100% of the assets of The Healthy Chef, Healthy Chef Stock & Research Development, and EHealth And Wellbeing.
The company has secured commitments for a capital raise through an$1.1 million institutional placement and is launching a non-underwritten Share Purchase Plan (SPP) of up to a maximum of A$0.5 million.
These funds will be used to complete the acquisition and support EXL with additional marketing investment and working capital to drive near term growth initiatives.
Healthy Chef Acquisition
The Healthy Chef was founded in Australia in 2006 by Teresa Cutter, a nutritionist, wellness coach and celebrity chef. The brand reflects, her belief that wholefood nutrition is essential for optimal health, fitness, and wellbeing.
Healthy Chef is a premium lifestyle brand providing clean nutrition for women’s health, inner beauty, and wellbeing. Its comprehensive portfolio of 28 products targets high-demand segments, including weight loss, health and fitness, stress, sleep, menopause, and immunity. Over the past 18 years, Healthy Chef has developed a loyal customer base in Australia and built a rich library of product innovation, digital content, and intellectual property.
Elixinol is acquiring The Healthy Chef business, including its assets (such as intellectual property) and stock as a going concern.
“We are thrilled to announce the acquisition of The Healthy Chef, which represents a strategic catalyst for our growth ambitions. This acquisition is expected to be margin accretive with synergies and cost savings projected to significantly improve Group gross margins,” David Fenlon, EXL’s Non-executive Chair, said.
“Additionally, it offers substantial growth potential in untapped consumer segments. We are delighted to welcome Teresa Cutter as a global brand ambassador and look forward to working closely with her to unlock the full potential of The Healthy Chef brand.”
