Elixinol Wellness has signed a binding agreement to acquire premium lifestyle brand The Healthy Chef in a deal worth up to A$5.5 million.

Founded in Australia in 2006 by nutritionist, wellness coach and celebrity chef Teresa Cutter, The Healthy Chef offers clean nutrition for women’s health, inner beauty, and wellbeing.

Its portfolio of products targets high-demand segments including weight loss, health and fitness, stress, sleep, menopause, and immunity.

On completion of the deal, Cutter will stay on as a consultant for three years, with an option to extend for another three years, providing global brand ambassadorship, as well as product and recipe development.

Sticking around: The Healthy Chef founder Teresa Cutter (image courtesy of thehealthychef.com)

Elixinol has also secured commitments for a capital raise via a $1.1m institutional placement of up to 244 million new shares and is launching a non-underwritten share purchase plan to raise up to $500k by the issue of approximately 111 million new shares.

Funds will be used to complete the acquisition of The Healthy Chef, for marketing and working capital.

Elixinol said the deal adds a comprehensive branded business that is expected to enhance revenue, margins, and EBITDA and complement its existing portfolio.

It added: “The acquisition advances Elixinol’s path to positive cash flow and EBITDA expansion, supported by diversified revenue streams aligned with the company’s core principles of sustainable nutrition.”

Non-executive chair David Fenlon said as well as boosting group margins via synergies and cost savings, the acquisition “offers substantial growth potential in untapped consumer segments”.

He added: “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.”

The transaction is structured so that, in addition to an initial cash consideration of $600k, deferred payments will be based on gross profits generated by The Healthy Chef, alongside the synergistic benefits from existing Elixinol operations.

The total purchase price will range from $3.1m to $5.5m, with the final amount determined in March 2028. It will be calculated on a sliding scale, with the maximum payable if The Healthy Chef generates more than $10m in gross revenue in FY27.

Elixinol told the ASX it is building a profitable ‘House of Brands’ in clean nutrition, achieving record revenues, strong growth, and category leadership in Australia, with the US identified as the next growth horizon.

Prior to launching Cannabiz, Martin was co-founder and CEO of Asia-Pac’s leading B2B media and marketing information brand Mumbrella, overseeing its sale to Diversified Communications in 2017. A journalist...

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