Bubs buys Australia Deloraine Dairy

Company News

by Rachael Jones

Infant formula maker Bubs (ASX:BUBS) has bought Australia Deloraine Dairy, an Australian canning facility that meets regulatory import conditions into China.

Bubs will pay an initial $25 million in cash and $10 million in Bubs shares for the Melbourne-based company, with further payments of up to $15 million if targets are met.

A month ago the Bubs announced a joint venture with Beingmate, a Chinese baby and child food company.

The company also partnered with investors C2 Capital to raise $31.44 million at a $0.65 per share.

Shares in Bubs (ASX:BUBS) trading 3.11 per cent lower at 78 cents.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.