Freedom Foods Group has announced the pro-rata accelerated non-renounceable entitlement offer and institutional placement to raise approximately $62m at a price of $4.45. The offer is at 2 new shares for every 25 held at the record date. The issue price represents a 5.9% discount to the 30 day VWAP.

Veritas Securities Ltd has underwritten the Entitlement Offer and acted as Lead Manager to the Placement. Funds raised will be used toward

• Proposed acquisition of Australian Consolidated Milk’s (ACM) 50% interest in Pactum Dairy Group
• Proposed acquisition of a Sports and Adult Nutrition brand;
• Proposed acquisition of a controlling interest in a North American based Cereal and Snacks Company
• Proposed investment in Australia’s Own Dairy Company China; and
• To provide Freedom Foods with additional balance sheet flexibility for future growth opportunities including the capital expenditure initiatives which are ongoing in relation to product and capability expansion at our Shepparton, Ingleburn and Dandenong facilities.

A Retail entitlement offer will open Tuesday 13 December 2016.

For further information, please see http://www.ffgl.com.au/asx