July 22, 2021

Happy days for ambitious Happy Valley Nutrition


Infant milk formula hopeful Happy Valley Nutrition has caught the eye of a strategic investor that’s keen to help turn its production pipedream into reality.

Street Talk understands the ASX-listed minnow, which is staring at a $300 million capital requirement to develop its production plant, has a strategic player on its tail and is trying to decide what to do about it.

Sources said the interested party was likely a North American or European group keen to shore-up supply, either via the acquisition of the company and/or a stake that is big enough to dictate terms when it comes to negotiating supply agreements.

The interest comes as Happy Valley stares at a $300 million capital expenditure requirement for its new plant in Waikato, having obtained approvals, got the necessary consents and signed supply agreements with the likes of Burt Lewis Ingredients from Chicago.

It has already been down the convertible notes route – signing Melbourne’s Merricks Capital Pty Ltd as a secured convertible notes holder in March.

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Written by Anthony Macdonald and Yolanda Redrup

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