Elixinol Wellness buys Vitable for $2.5M

• Elixinol Wellness has signed a binding agreement to acquire Australian supplement subscription platform Vitable for headline consideration of $2.5 million.
• The acquisition adds over $5 million in revenue, lifting the combined group’s annual revenue past $20 million.
• Management stated the transaction accelerates its strategy to build a scaled Australian health and wellness business.

Elixinol Wellness (ASX:EXL) has entered into a binding agreement to acquire supplement platform Vitable for a headline consideration of $2.5 million in shares.

The addition of Vitable brings over $5 million in revenue, pushing the combined group’s annual revenue past $20 million.

The deal features an all-scrip, majority-deferred, performance-based structure designed to protect existing shareholders while aligning founder incentives.

Elixinol Wellness CEO and Executive Director Natalie Butler commented, “Having reset the business and sharpened our focus on Australia, this acquisition marks the next phase of Elixinol’s growth. It adds recurring revenue, a direct relationship with thousands of consumers and the ability to deliver increasingly personalised wellness offers.”

Vitable currently operates with approximately 7,850 active subscribers and has processed 1.84 million customer health assessments through its platform.

Following the announcement, the Elixinol Wellness share price was unchanged at $0.008.

Looking further ahead, the combined business is targeting $27 million in revenue and approximately $3 million of EBITDA by 2028 based on full realisation of scrip-based earn-out terms.

Founded in 2019, Vitable uses proprietary recommendation technology to deliver personalised daily supplement packs to direct-to-consumer subscribers.