The receivers of Halo Food Co. Limited (ASX:HLF) are ramping up the sale process for the failed health and sports nutrition products business, with bids due on 31 August 2023 after the company collapsed last week. The business makes health and sports nutrition products, with production facilities in Victoria and NSW that include power blending and packing, long-life UHT, a ready-to-drink PET bottling facility and protein and confectionery site.

The company was put in receivership through KPMG on 25 August 2023. Its Tonik beverage business has grown by 71% through 2023, the flyer says, with distribution through supermarkets, convenience stores and petrol stations. The company is Chaired by Macquarie Telecom Chair Peter James.

On 25 August 2023, Halo Food told the market that after a strategic review in May to unlock value through divestment, mergers and acquisitions and other opportunities, financial support had been withdrawn. KordaMentha is working as administrators, while KPMG is the receiver. Halo's last market value when trading was $2.8m.

Meanwhile, the sale of the Sukin skincare brand is narrowing to a strategic player, sources say. While private equity has looked at the business, the thinking is it will likely be another skincare manufacturer or a rival global brand. The understanding is that buyers have the opportunity to own the brand, the manufacturing capability or both.