Himstedt Family outbids Global Foods for Buderim Group's ginger division

Himstedt Family outbids Global Foods for Buderim Group's ginger division

A Queensland family that revitalised vanilla processor Queen Fine Foods has entered a binding agreement to buy Buderim Group's (ASX: BUG) ginger and tourism business assets for $13 million. The Himstedt Family's offer is more than 56 per cent higher than a previous bid from Adelaide-based Global Foods Group, whose main s...

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Gary Weiss-backed ARA lifts bid for Cromwell

Gary Weiss-backed ARA lifts bid for Cromwell

ARA Group has today purchased around $61.6 million worth of Cromwell Property Group (ASX: CMW) shares on-market after raising its offer for greater ownership in the Brisbane-headquartered company. Led by corporate raider Dr Gary Weiss (pictured), Singapore-based ARA already had a 24.07 per cent share in Cromwell before its new offer annou...

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Young Australians flock to Matt Barrie's Freelancer.com as job market flatlines

Young Australians flock to Matt Barrie's Freelancer.com as job market flatlines

According to Matt Barrie (pictured), there has never been a better time than now to start a new business. The founder and CEO of Freelancer.com (ASX: FLN) recently posted some impressive half yearly results, driven in part by an influx of young people joining his crowdsourcing marketplace website in the midst of the COVID-19 pandemic. ...

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High score: Mogul spikes as former Disney exec named CEO

High score: Mogul spikes as former Disney exec named CEO

Shares in listed esports company Mogul (ASX: ESH) are the highest they've been this year on the back of two high-profile appointments this week. Today, the company appointed former Electronic Arts (EA), Midway and Disney executive Michael Rubinelli to the position of CEO. His appointment comes just three days after former Spotify ...

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Nick Scali beats COVID blues and tables a $42m profit

Nick Scali beats COVID blues and tables a $42m profit

At the beginning of 2020 Nick Scali (ASX: NCK) was bemoaning the state of consumer confidence in Australia, but even with the impacts of COVID-19 the company has pulled up relatively unscathed. The furniture retailer has today reported a profit of $42.1 million for FY20, the exact same amount achieved in FY19, in spite of store closures d...

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Alliance Aviation soars with record profit

Alliance Aviation soars with record profit

A Brisbane-based airline with a strong focus on charter flights has defied the aviation sector's doom and gloom with record profit and revenue for FY20. After its shares reached new highs on the back of an aircraft acquistion deal funded by a recent capital raise, Alliance Aviation Services (ASX: AQZ) has reported a record full-year p...

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Maggie Beer to launch vegan ready-to-eat range in Coles

Maggie Beer to launch vegan ready-to-eat range in Coles

A plant-based prepared meal range from iconic South Australian cook Maggie Beer will launch in Coles from mid-October, targeting the fast-growing vegan category. The "Maggie's Food for Life" ready-to-eat range, already stocked in independent supermarkets, will be launched into approximately 400 Coles stores nationally. M...

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Virgin axes 3,000 jobs and scraps Tigerair as airline plans recovery

Virgin axes 3,000 jobs and scraps Tigerair as airline plans recovery

A simplified business structure for Virgin Australia (ASX: VAH) will result in 3,000 jobs being lost as the company plots its post-administration recovery plans. The airline, which is to be acquired by US private investment firm Bain Capital, will also bid farewell to its budget brand Tigerair as part of a business reset. The relaunch...

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Nick Woolf appointed as AusCann CEO

Nick Woolf appointed as AusCann CEO

Nick Woolf (pictured) has been appointed as the new CEO of medicinal cannabis company AusCann (ASX: AC8), bringing considerable experience in the pharmaceuticals space along with him. Woolf's appointment sees him replace former CEO Ido Kanyon following his surprise resignation in May. Kanyon cited personal reasons for his departur...

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Perpetual cooling made possible with Alexium's new Phonon product

Perpetual cooling made possible with Alexium's new Phonon product

Alexium International Group (ASX: AJX) has announced a breakthrough technology for thermal management in textile- and foam-based consumer products. The South Carolina, USA-based performance chemicals provider has a focus on flame retardancy and thermal management, with an innovation model to address market gaps with patent-protected technolo...

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Smiles Inclusive investors call for EGM to overthrow board

Smiles Inclusive investors call for EGM to overthrow board

Update: After this story was published, on 5 August Smiles Inclusive advised it had received a notice from the requisitioning shareholders nominating Dr Joao 'John' Camacho, Dr Philip Makepeace and Dr Arthur Walsh to be appointed directors, and that it was seeking independent advice in response.  With shares suspended since M...

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Alliance Aviation flying high on $111m fleet boost

Alliance Aviation flying high on $111m fleet boost

While most airlines have been flailing since the outbreak of COVID-19, Alliance Aviation Services (ASX: AQZ) has floated on cloud nine thanks to resource sector exposure and government support to bolster tourism. That momentum has continued today with the announcement of a US$79.4 million (AUD$111.16 million) fleet acquisition package wit...

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Ecofibre gives Hemp Black a boost with $59m US acquisition

Ecofibre gives Hemp Black a boost with $59m US acquisition

Australia's largest listed medicinal cannabis company Ecofibre (ASX: EOF) will acquire a portfolio of high-performance textile businesses and assets in what has been described by CEO Eric Wang as an "incredibly important strategic move" to accelerate the growth of Hemp Black. While most of Ecofibre's revenue co...

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Temple & Webster earnings up five-fold

Temple & Webster earnings up five-fold

Online furniture retailer Temple & Webster (ASX: TPW) has played into the surge of online shopping during COVID-19 lockdowns to report major revenue and earnings growth for FY20. Announcing its pre-audited results today, the company saw full-year revenue rise by 74 per cent year-on-year to $176.3 million. In addition, EBITDA was u...

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Metcash to acquire majority of Total Tools for $57m

Metcash to acquire majority of Total Tools for $57m

Wholesale distributor and retailer Metcash (ASX: MTS) hopes to expand its presence in the professional tool segment by entering into an agreement to acquire 70 per cent of Total Tools for $57 million. If approved by the Australian Competition and Consumer Commission (ACCC), the deal would see Metcash hold a controlling interest in Total T...

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Elixinol secures foothold in Australian market with PharmaCann agreement

Elixinol secures foothold in Australian market with PharmaCann agreement

Elixinol (ASX: EXL) will finally be able to sell its CBD products in Australia after penning an exclusive distribution agreement with licenced wholesaler PharmaCann. Under the agreement PharmaCann will import and supply Elixinol's branded CBD products into Australia from the US, opening the company up to a brand new market. "...

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Jennifer Hawkins the new brand ambassador at Bubs Australia

Jennifer Hawkins the new brand ambassador at Bubs Australia

TV presenter, model and entrepreneur Jennifer Hawkins will be the new face of goat's milk formula company Bubs Australia (ASX: BUB), which today reported a 32 per cent rise in revenue to $62 million in FY20. Pantry stockpiling in the third quarter meant fourth quarter sales fell slightly lower for the company, but management is upbeat...

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ACCC takes Google to court over personal data use

ACCC takes Google to court over personal data use

As Google prepares to face the US House Judiciary Antitrust Subcommittee along with other tech giants, the online search and advertising behemoth has a new legal challenge to contend with on the other side of the world here in Australia. The Australian Competition and Consumer Commission (ACCC) has launched legal proceedings in the F...

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City Chic Collective to raise $90m for Catherines acquisition

City Chic Collective to raise $90m for Catherines acquisition

Omni-channel retailer City Chic Collective (ASX: CCX) is raising $90 million for the potential acquisition of the e-commerce assets of a US plus-sized fashion brand. The company has been selected as a bidder for the acquisition of the e-commerce assets of Catherines, a US-based retailer that has recently filed for Chapter 11 Bankruptcy. ...

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Provenir mobile abattoir granted licence to operate in Victoria

Provenir mobile abattoir granted licence to operate in Victoria

Provenir has secured a licence from the Victorian Food Safety Authority to operate its mobile abattoir in the state, allowing the company to branch out from New South Wales. The company, which launched in 2019 after receiving the go-ahead from the NSW Food Authority, will now be able to operate the first and only mobile abattoir in V...

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