The Bubs Australia Ltd (ASX: BUB) share price is in focus this morning after announcing the sale of non-core assets acquired as part of its 2017 acquisition of NuLac Foods Pty Ltd.
What did Bubs Australia announce?
Bubs has entered into an agreement to sell the Coach House Dairy brand to The Remarkable Milk Company Pty Ltd and management said the company does not consider the brand core to its business strategy of infant nutrition and goat dairy products.
The assets include the business conducted under the Coach House Dairy brand for the production and sale of flavoured cow’s milk products, including the Australian registered trademarks, recipes, website and social URLs.
The company expects to complete the sale on 30 June 2019 and receive consideration of $500,000.
Is Bubs Australia the best infant dairy stock on the market?
The Bubs Australia share price has rocketed 69.6% higher on strong earnings and general tailwinds for