Completely satisfied days for bold Completely satisfied Valley Diet

0
357

Infant formula hopes Happy Valley Nutrition has caught the attention of a strategic investor keen to turn his manufacturing dream into a reality.

Street Talk understands that ASX-listed minnow, aiming to raise $ 300 million in capital to develop its manufacturing facility, has a strategic player up its sleeve and is trying to decide what to do about it.

Happy Valley Nutrition is building a nutritional products plant in New Zealand. Penny Stephens

Sources said the interested party is likely a North American or European group interested in securing supplies, either through the acquisition of the company and / or a stake large enough to negotiate terms of supply contracts dictate.

Interest comes as Happy Valley is targeting a $ 300 million investment in its new Waikato facility after obtaining permits, obtaining necessary permits, and signing supply agreements with Chicago-based Burt Lewis Ingredients.

It was already on the convertible path – Melbourne’s Merricks Capital Pty Ltd signed as a secured convertible holder in March.

It will be interesting to see if Happy Valley Nutrition can make the most of strategic interest. The group was listed on the ASX last year on an initial public offering of about $ 10 million via Bell Potter. Shares have done credibly, but the group’s market cap is still only around $ 30 million.

So it’s fair to say that being a strategic investor would be a good thing. However, whether it can find a deal that works for everyone remains to be seen. This task will fall to Happy Valley Nutrition’s chairman, Ivan Hammerschlag, who is best known among investors from his time on the boards of the ASX-listed Accent Group and Smartpay.