Health and beauty products retailer Healthzone Ltd
(ASX:HZL) says it has made a $2.2 million placement to strategic investors.
The company says it is in the process of issuing cover 7.3 million shares at 30 cents a share to help support the company’s continued growth, market capitalisation and international investment profile.
Chairman Peter Roach says wellness markets in North America are much larger than in Australia and Healthzone is uniquely positioned to benefit from increasing trade of health and beauty products between markets including North America, Europe and Australia.
Mr Roach estimates that sales in the nutrition, beauty and wellness markets in the US exceed $100 billion with annual growth of more than 8%.
Healthzone posted a profit for the 2009 financial year.
