HNG released its Annual Report this morning. The following two quotes represent the statements made within it concerning AN1.
(1) “Focus areas for FY2023 include: … AN1 and FOS M&A and value creation …”
(2) “Strategic Listed Investments
ANAGENICS LIMITED
Anagenics Limited (ASX:AN1) is a growing wellness, health and beauty business with a portfolio of functional skin, hair and wellness brands.
Originally an IP development portfolio with limited commercialisation, AN1 was transformed in 2021 with the acquisition of BLC Cosmetics from H&G - a beauty distribution business supporting iconic prestige brands such as Thalgo, Hydropeptide, Comfort Zone, Priori and recently Inika Organic.
AN1 retains its strong developed IP in hair regrowth technology with related license and royalty streams. H&G received an equity stake in AN1 through the BLC transaction, remaining a supportive strategic shareholder with board representation for the continued transformation AN1 with a particular focus on accretive M&A opportunities. “
poorinvestor
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