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S-Ventures PLC - AQSE-listed investment firm focused on health & wellness, organic food and wellbeing sectors - Acquires business and assets of Livia's Health Foods Ltd for GBP355,000, payable on completion. GBP130,000 will be paid in cash, and the remainder is made up of 321,429 new shares in S-Ventures at 70 pence each, which is a 47% premium to Wednesday's closing price of 47.5p. A further GBP1000,000 bonus will be paid in cash and shares at the same price if Livia's revenue exceeds GBP600,000 in the ten months post acquisition.
London-based Livia's is a plant-based snack company, with contracts with major UK supermarkets. It had sales of GBP1.6 million in its financial 2020, and a pretax loss of GBP1.39 million. Management accounts for financial 2021 showed sales of GBP1.3 million.
Chief Executive Officer Scott Livingston commented: "The Livia's team have done a fantastic job in establishing and building a respected and successful brand and set of healthy plant based snacking products across multiple channels. As part of the S-Ventures Group Livia's can expand and progress and become a mainstream player in this growing natural based products market."
Current stock price: 47.80 pence
12-month change: up 378% from late last January
By Elizabeth Winter; elizabethwinter@alliancenews.com
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