• Elixinol Wellness says its binding agreement to acquire Teresa Cutter’s health and wellness company, The Healthy Chef, will enhance revenue, margins, and EBITDA. The deal is worth up to $5.5 million with Cutter staying on as a consultant for three years. (Image: The Healthy Chef)
    Elixinol Wellness says its binding agreement to acquire Teresa Cutter’s health and wellness company, The Healthy Chef, will enhance revenue, margins, and EBITDA. The deal is worth up to $5.5 million with Cutter staying on as a consultant for three years. (Image: The Healthy Chef)
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Elixinol Wellness says its binding agreement to acquire Teresa Cutter’s health and wellness company, The Healthy Chef, will enhance revenue, margins, and EBITDA. The deal is worth up to $5.5 million with Cutter staying on as a consultant for three years.

Elixinol is the parent company of Hemp Foods Australia, Mt Elephant, The Australian Superfood Company, and pet food brand Field Day. It acquired hemp food and animal products business, Ananda Foods, for $3.16 million in February.

The Healthy Chef was founded by celebrity chef, nutritionist, and wellness coach, Teresa Cutter, in 2006. It has a portfolio of 28 products that target weight loss, health and fitness, stress, sleep, menopause, and immunity.

The deal includes all assets, intellectual property, and stock as a going concern.

Elixinol chair, David Fenton, said the acquisition was “a strategic catalyst” for the company’s growth ambitions.

“This acquisition is expected to be margin accretive with synergies and cost savings projected to significantly improve group gross margins. 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,” Fenton said.

The company secured commitments for $1.1 million through an institutional placement of up to 244 million new shares and is launching a non-underwritten share purchase plan to raise up to $500,000 by issuing roughly 111 million new shares. Funds will be used to complete the deal, marketing and working capital.

Elixinol has its sights on the US as its next growth horizon, and says The Healthy Chef provides products that have strong appeal in the US wellness market with IP protection and a licensing agreement.

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