Wattle Health Australia signs new debt term sheet for the acquisition of Blend and Pack

Company News

by Anna Napoli

Dairy company Wattle Health (ASX:WHA) has signed a revised debt facility term sheet to increase proposed net cash funding up to US$85 million with Gramercy Funds Management LLC on behalf of its managed vehicles and funds.

The company is also negotiating to increase its shareholding interest in Blend & Pack to 93.5 per cent from its proposed acquisition of 75 per cent from Mason Group Holdings.

Blend and Pack B&P is the largest by volume independent, nutritional dairy processing and packaging business in Australia.

It's one of the first Australian manufacturers to obtain Certification and Accreditation Administration of People’s Republic of China (CNCA).

Upon completion of the acquisition, Wattle Health will be one of the first fully vertically integrated organic nutritional dairy companies in Australia.

Shares in Wattle Health Australia (ASX:WHA) are trading 4.95 per cent higher at $0.53.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.