Infant formula and baby food maker Bubs Australia looks set to announce M&A news, according to a stock-exchange filing from the company.
Bubs Australia today (29 March) requested a halt in the trading of its shares on the Australian Securities Exchange “pending an announcement … in relation to a proposed acquisition and an associated proposed capital raising”.
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The company has asked for the pause in share trading to last until the start of normal trading on Tuesday or when the firm makes a further announcement and asks for the halt to be lifted, whichever comes first.
Bubs Australia has already announced a number of corporate moves in 2019. Earlier this month, the business set out a distribution deal in China with local infant-formula group Beingmate.
A week earlier, Bubs Australia said it was leaving a dairy joint venture with Uphamgo Australia, a partnership formed through its 2017 acquisition of goat’s milk business NuLac Foods.
Last month, Bubs Australia announced what it called a “long-term strategic supply partnership” with Tatura Milk Industries, a subsidiary of Bega Cheese, to produce goat’s milk infant formula.
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