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November 16, 2020

Australia’s Buderim in capital-raising exercise to support new identity, strategy

Australia's Buderim Group in Queensland is seeking to raise new capital to support its new business plan.

By Dean Best

Australia’s Buderim Group in Queensland is seeking to raise as much as AUD6.2m (US$4.5m) from the equity market to support its new business plan, which entails a focus on plant-based proteins and macadamia nuts.

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The funding exercise is split into two portions – a AUD2.2m share placement and an AUD4m non-renounceable entitlement offer. The former was completed yesterday (12 November), with more than 12 million shares placed with “sophisticated, professional and other investors” amid what was deemed “strong demand”, Buderim said in a filing with the Australian Securities Exchange (ASX).

Eligible shareholders, including Buderim’s directors, will be able to subscribe to the entitlement offer on 17 November and can bid for one share for every 3.6 shares held. 

Buderim has also changed its trading name to Health and Plant Protein Group – although it is still listed as Buderim on the ASX – to better reflect its new strategy aimed at becoming a “global leader in health and plant protein, utilising the macadamia business as a platform business” and, with it, a focus on the US market.

In August, Buderim said it had agreed a deal to sell its ginger division – consisting of confectionery and other ginger-based products, including tourist-related assets (The Ginger Factory) – to the Himstedt family in Queensland for around AUD13m. The transaction closed in September. 

The Himstedt family has put in a bid superior to that of another interested party, Global Foods Group of Australia, which had put in an offer for AUD8.3m.

Buderim has subsidiaries in Australia, the US and Fiji, including MacFarms, which is based on the island of Hawaii and manufactures macadamia-based products for the retail and foodservice channels under the Royal Hawaiian brand.

The business delivered an after-tax loss of AUD2.4m in the fiscal year to the end of June based on revenues of AUD42.1m, according to its annual report. Buderim posted EBITDA of AUD1.4m.

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Unilever- A Deep-dive into Product Launches and Advertising Strategy

Unilever product advertising is mainly through mainstream TV channels. Out of the products advertised so far at least 50% (over 850) of ads have been run on TV, while print media comes second with 496 ads. Unilever also utilizes social media platforms for advertisement. Unilever products are categorized by innovation ratings and tags in our product launch database. The North American region consists of almost 74 products with innovations related to the formulation of the product. Europe and other regions also have more products categorized under formulation-related innovation, followed by the packaging and positioning of the products. Most Unilever products are tagged with “High Vitamins”, “Recyclable”, and “Natural” tags to understand what the product differentiator is from other products available in the market. The majority of products belong to the personal care industry with a total of 5,788 products to date. This report, through the Unilever Example, illustrates how GlobalData Explorer enables you to:  
  • Track product launches by FMCG companies to get an understanding of the product-level strategies including geographic concentrations, innovation types, product claim, category focus and more
  • Monitoring the advertising strategies of various brands and gain insights into channel focus, regional focus, and more
  • Perform company-level analysis to understand business model, size, and geographic focus
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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