Better Choice Company Announces Sale of Halo Division in Asia
TAMPA, Fla., February 19, 2025 (GLOBE NEWSWIRE) – Better Choice Company, Inc. (NYSE American: BTTR), a leader in pet health and wellness, has revealed that it has entered into a definitive agreement with CZC Company LTD, an existing partner in Asia. This strategic move involves the sale of its Halo brand operations within the region for total proceeds amounting to $8.1 million. The deal includes an upfront cash payment of $6.5 million at closing and additional earnings through a 3% royalty on sales over the following five years, accompanied by a guaranteed minimum royalty payment totaling $330,000 annually or $1.65 million overall.
Better Choice will maintain ownership of its North American business as well as operations outside Asia after the transaction’s completion is expected in April 2025.
Overview of Better Choice Company Inc.
Better Choice Company Inc. stands out as a dynamic player in the pet health and wellness sector dedicated to transforming how pet products are perceived and utilized for enhancing canine and feline quality of life. Emphasizing nutrition-based methodologies rather than conventional pet food options, we position our product array to cater to trends surrounding increased humanization of pets alongside rising consumer awareness regarding health.
With decades-long success backed by reliable sales data for trusted wellness products for pets, we capitalize on our solid digital presence to empower pet owners with essential insights into their companions’ wellbeing. Our primary offerings largely consist of dog food and cat food under the Halo brand—characterized by sustainably sourced kibble made from whole meats—and minimally processed raw-diet options along with treats designed specifically for animal health.
For further details about our initiatives and philosophy at Better Choice Company Inc., please visit our website.
Important Disclaimers
This announcement contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 relating to expectations about future challenges and financial patterns which may impact company performance results or strategies going forward. Terms like “believe,” “may,” “anticipate,” “plan,” “could,” “expect,” among others indicate these projections that we cannot fully guarantee will occur as anticipated.
These insights hinge significantly on current company assessments concerning potential economic shifts affecting business dynamics or financial necessities—there’s no certainty that these projected outcomes will materialize as intended due to diverse variables waiting around every corner; thus it’s vital always review available SEC filings outlining risk considerations relevant to us.
Any forward-looking statements herein reflect only aims expressed up until their date; arising factors may change unpredictably over time affecting possible achievement levels based on unforeseen circumstances beyond control—the emergence thereof remains entirely unpredictable.
For inquiries regarding investor relations:
Company Contact:
Better Choice Company, Inc.
Kent Cunningham
CEO
Investor Relations:
KCSA Strategic Communications
Valter Pinto
Managing Director
Phone: 212-896-1254
Email: [email protected]
