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Halo Food Co, Producer of Wellness Products for Mothers, Faces Sudden Collapse

Kaia by Kaia
30/08/2023
in News
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An Australian company renowned for its production of wellness products tailored to mothers, as well as a variety of handcrafted fudge offerings, has unexpectedly entered a state of receivership.

Halo Food Co Limited, which trades on the ASX as HLF, recently underwent administration proceedings, with the appointment of receivers David Hardy, Ryan Eagle, and Emily Seeckts from KPMG Australia, all of whom were appointed on the preceding Friday.

A statement released on the ASX last Friday also unveiled the appointment of KordaMentha as voluntary administrators for the company.

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A KPMG spokesperson shared, ‘The receivers have taken over the day-to-day management of the Halo Group. An immediate campaign to facilitate the sale and acquisition of Halo Group’s assets has been initiated.’

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Halo Food serves as the parent company for an array of entities, including Halo Manufacturing Pty Ltd, Halo Food Co. Trading Pty Ltd, and Omni Brands Pty Ltd. Its brand portfolio encompasses The Healthy Mummy, a brand dedicated to producing wellness products specifically tailored for mothers; Tonik, lauded as a ‘premium functional beverage brand’; Key Dairy, specializing in the production of powdered milk; and Gran’s, a prominent producer of luxurious handcrafted fudge.

The company is headquartered across Sydney and Melbourne in Australia, as well as in Christchurch, New Zealand. Its offerings span a comprehensive range of dairy and non-dairy nutritional products and health and wellness brands, as highlighted on the official Halo Food website.

By the time trading for HLF shares was halted on Thursday morning, the share price had plummeted to a mere $0.007.

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Kaia

Kaia

Kaia Green is a staff writer for WhatFoodrecipes, where she covers everything from holidays to food. She is a graduate of Syracuse University, where she received a B.A. in magazine journalism. She has taste-tasted hundreds of products and recipes since joining WhatFoodrecipes in 2023 (tough job!), she considers the kitchen to be her happiest place. When she’s not at the supermarket or trying out a new recipe, you can find her at the beach, in her backyard or on the couch — typically with a glass of wine in hand.

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