date:Apr 04, 2019
Bubs Australia has entered into a conditional sales and purchase agreement to acquire Melbourne-based infant formula producer Australia Deloraine Dairy (Deloraine).
The company has agreed to pay a cash consideration of A$25m ($17.7m) and 15,384,615 Bubs shares, amounting to the value of A$10m ($7.1m).
Upon meeting certain performance targets, Bubs Australia has agreed to pay up to A$15m ($10.6m) to Deloraine vendors over three years in equal annual instalments.
Bubs Australia founder and CEO