Keytone Dairy will acquire Australian health and wellness brand Super Cubes for $726,000 plus an earn-out subject to performance milestones. This follows Keytone’s acquisition of Omniblend in June for $22.6 million (Food & Drink Business, 19 June 2019).
The Super Cubes brand is the trading name for the assets, brands and business of 40Forty Foods Pty Ltd and was launched in 2018. In FY19, Super Cubes sales were around $650,000, with significant distribution and sales achieved during the last quarter.
Super Cubes products have a five-star health rating, with its flagship range being cubes of natural, frozen fruits, vegetables and plant-based protein designed for smoothies. It will launch a new range of snack bars in the last quarter of 2019.
“Super Cubes is an exceptionally attractive acquisition for Keytone. The brand is a fast growing, highly appealing range of products for the health conscious, time-poor, consumer,” said Keytone CEO Danny Rotman.
“The acquisition fast tracks the strategic priority and development of the Omniblend branded product portfolio through the on-boarding of the Super Cubes executive team, matching their skills and depth of experience in brand development and sales, with Omniblend’s leading in-house product development expertise.”
Super Cubes founder Ashley McMillan will join the team at Keytone following the acquisition and has driven Super Cubes product penetration into Woolworths nationally, 400 independent groceries across Australia and developed a proprietary website with more than 15,000 unique visits per month.
Omniblend is expected to manufacture certain Super Cubes product lines in-house over time.