Nuchev (ASX: $NUC) acquires bWellness and raises equity

Nuchev Limited (ASX: $NUC) has announced the acquisition of bWellness and an equity raising initiative. Mick Myers, Chief Executive Officer & Chief Financial Officer, highlighted the strategic rationale behind the acquisition, emphasizing its alignment with Nuchev's growth strategy. The acquisition is expected to significantly impact Nuchev's financials, with pro forma group revenue reaching $11.7m in 1HFY24, representing a 2.6x growth from the previous half, at enhanced margins.

Executive Commentary on Acquisition and Equity Raising

Mick Myers, Chief Executive Officer & Chief Financial Officer, stated that the acquisition of bWellness is fundamentally aligned with Nuchev's purpose and growth strategy of providing 'Functional Foods for a Better Life'. He emphasized the importance of the acquisition in scaling Nuchev to establish a diversified portfolio of profitable and sustainable businesses. Myers also highlighted the material opportunity for growth through new product development in bWellness' own-brand BioPractica and the complementary medicines market. The acquisition is expected to increase scale, diversification, and operating cashflow of Nuchev, with pro forma group revenue reaching $11.7m in 1HFY24, representing a 2.6x growth from the previous half, at enhanced margins.

Summary of Acquisition and Equity Raising

Nuchev's acquisition of bWellness and the equity raising initiative are strategically aligned with the company's growth strategy. The acquisition is expected to enhance Nuchev's financials, with pro forma group revenue reaching $11.7m in 1HFY24, representing a 2.6x growth from the previous half, at enhanced margins. The acquisition is aimed at providing 'Functional Foods for a Better Life' and is anticipated to bring synergistic benefits via complementary products and operational efficiencies to drive sustained long-term growth for Nuchev.