The receivers of New Zealand-founded, Australian-listed health and sports nutrition business Halo Food Co are seeking potential buyers following its collapse last week.
Available assets of the failed business include inventory, plant and equipment, intellectual property and customer contracts, with bids due on Thursday.
Halo Food Co, parent of The Healthy Mummy, Tonik, KeyDiary and Gran’s, entered voluntary administration last Thursday with KordaMentha appointed as administrator.
On the following day, the firm appointed David Hardy, Ryan Eagle and Emily Seeckts from KPMG as receivers to control its assets and trading operations.
The company and its administrator wanted to re-affirm that it is business as usual with the running of the company and that it will continue to supply existing clients while the administration process progresses.
Halo Manufacturing generated over $51.8 million in revenue in FY23 and revenue growth has increased 26 per cent year-on-year, according to The Australian.
The company’s last market value when trading was $2.8 million.
Earlier this month, Halo Food announced the divestiture of The Healthy Mummy to Australian hair loss and healthcare company Mosh for $588,540, after acquirring the health and fitness platform in February 2022 for $17 million.
