Of interest, Forbidden Foods (FFF) might be worth a comparison to Halo Food Company. They are trading at a MC of $17m (~50% of KTD) on Annual revenues of $4.2m (zero growth YoY) and an annual EBITDA loss of ~$3.5m.
I know possibly more aligned to the Brands division of KTD, rather than the business as a whole.
They have also just completed an acquisition of “Blue Dinosaur” which those in the health space might be aware of. $5.5m acquisition on revenues of $3.7m and +ve EBITDA of $0.2m. What I found interesting here was the disclosed Gross Margins of 44%! This is probably representative of the levels of Gross Margins we would be looking at in KTD’s Brands business. Furthermore, as snacks carry higher margins to the brand owners this probably means the GM earned by KTD on CM through the new snacking line is probably higher than that on its other CM lines.
