Better Choice Company Finalizes Sale of Halo Asia Business
Better Choice Company Settles on Halo Asia Sale
Better Choice Company, Inc. (BTTR), a leader in pet health and wellness, has recently reached a significant milestone by signing a definitive agreement to sell its Halo business in Asia. This sale is projected to generate total gross proceeds of $8.1 million, which encompasses $6.5 million in cash at the closing of the deal. Additionally, the company will benefit from a 3% royalty on sales over the next five years, guaranteed by a minimum royalty payment of $330,000 annually, amounting to $1.65 million over the period.
Details of the Agreement
The transaction is structured in such a way that Better Choice retains ownership of its operations outside Asia, providing them with the flexibility to continue enhancing their core business in North America and other markets. This arrangement allows Better Choice to focus on its strengths while capitalizing on the interests surrounding its Halo brand.
Anticipated Closing
The closing of this transaction is expected to occur in April, marking an exciting new chapter for Better Choice Company. This agreement not only reflects the company’s strategic vision but also reinforces its commitment to enhancing pet wellness through innovative products.
About Better Choice Company
Better Choice Company, Inc. is a rapidly expanding entity in the pet health and wellness industry. The company is dedicated to leading a shift in the market towards healthier, more sustainable pet products and services. Their portfolio is designed to address the increasing demand among pet owners for high-quality, nutritious options that contribute to the well-being of dogs and cats.
Commitment to Quality
With a mission to enhance the lives of pets, Better Choice takes an alternative nutrition-focused approach compared to traditional pet food offerings. Their Halo product line is particularly noted for providing wholesome, responsibly sourced kibble and canned food made from real whole meat, alongside minimally processed raw-diet options. These products assist pet parents in making informed choices that directly impact the health of their beloved companions.
Future Outlook
As Better Choice continues to evolve, it remains committed to leveraging its established digital presence and distribution channels to reach more pet parents. The strategic sale of the Halo business in Asia is part of a broader plan to streamline operations and focus on areas with the highest growth potential.
Contact Information
For additional inquiries or further information regarding the sale, interested parties can reach out to Better Choice Company, Inc. The CEO, Kent Cunningham, is spearheading communications.
Investor Relations
For investor inquiries, Valter Pinto, Managing Director at KCSA Strategic Communications, is available at 212-896-1254. Interested individuals can also contact him via email for further discussions about the company’s direction and financial health.
Frequently Asked Questions
What does the sale of Halo Asia entail?
The sale involves transferring Better Choice's Halo business operations within Asia for $8.1 million, including a cash payment and future royalties.
When is the sale expected to close?
The anticipated closing date for the sale is scheduled for April 2025, subject to all required approvals.
What is Better Choice Company's primary focus?
Better Choice focuses on the pet health and wellness market, emphasizing nutritious products that enhance the lives of pets.
Who can I contact for more information about the company?
For general inquiries, Kent Cunningham, the CEO, can be contacted. For investor relations, Valter Pinto can be reached directly.
How does the Halo brand differentiate itself?
The Halo brand is distinguished by its use of high-quality, responsibly sourced ingredients and a commitment to minimally processed food options for pets.
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