Wattle Health (ASX:WHA) is set to snap up a majority holding in dairy manufacturing facility, Blend and Pack.
The consideration for the deal is $46 million which will be funded by a debt issue.
As part of the terms Wattle Health is also to enter a Put and Call Option Deed relating to an acquisition of a further 29 per cent interest in B&P.
Blend and Pack is the leading independent nutritional dairy processing and packaging business by volume with a long history of profitability.
On completion of the deal Wattle Heatlh will have total assets of $165 million.
Shares in Wattle Health (ASX:WHA) are trading 4.52 per cent higher to $1.04.