☕️ Fibre Glowup

Companies pounce on the now aspirational appeal of fibre.

Good morning.

Companies are scrambling to jump on the fibre bandwagon as young consumers swarm around the latest wellness trend. According to the Wall Street Journal, sales in Metamucil’s products have doubled over the past five years. Between 2019 and 2023, there was a 14% increase in launches of fibre-centric vitamin, mineral or supplements with ingredients including psyllium husk, inulin and chia. In fact, the uptake is proving so strong that BelliWelli’s COO wants its latest fibre product to be "Metamucil for the Stanley Cup generation.”

ASX as at market close. Commodities and crypto in USD.

🏆 LOI Subscriber #TBD

Market movers

Shares in Treasury Wine Estates fell slightly on Friday after Morningstar analysts downgraded the stock, even as the country’s top winemaker is set to benefit from China’s decision to scrap tariffs on Australian wine. Morningstar trimmed its rating on Treasury Wine shares by a notch to two-stars, but kept its $11.50 fair value estimate. Shares in the company fell 1.08% to close at $12.86.

The quick sync

  • Macquarie, Westpac and Bendigo have emerged as potential buyers for Judo Bank. (The Australian)

  • The People’s Bank of China is launching a $107.3b relending program to support innovation and project upgrades in the science and tech sectors. (Capital Brief)

  • The offshore regulator is investigating a ruptured pipeline between two ExxonMobil oil platforms in the Bass Strait. (The Australian)

  • Chinese mining giants Tianqi and Gangfeng have extracted at least $2.5b from Australian lithium operations over the past year. (AFR)

  • As private capital can’t fund the energy transition alone, will Greg Combet’s $270b Future Fund increase its exposure to transition-related projects? (Capital Brief)

M&A

  • TA Associates and EQT Partners collaborating as joint bidders in Perpetual’s auction's final stage. (AFR)

    • Perpetual is expected to provide an update in the coming weeks on the outcome of its strategic review. (The Australian)

  • Quadrant Private Equity launches selection process to appoint an advisor for the sale of Darrell Lea parent, The RiteBite Group. (The Australian)

  • Qoria set to receive a takeover offer from American software investor K1. (AFR)

  • APM Human Services' major shareholder, Madison Dearborn Partners, has submitted a revised offer for the troubled employment services group. (AFR)

  • Shield AI has acquired Melbourne's Sentient Vision Systems for an undisclosed amount. (BNA)

  • Future Fund has finalised a deal to acquire a minority stake in Victoria's largest toll road network. (AFR)

  • Sales materials for Myer's fashion brands Sass & Bide, Marcs, and David Lawrence are circulating. (The Australian)

  • Bain Capital Credit has terminated its business dealings with Jon Adgemis' Public Hospitality Group. (AFR)

Capital Markets

  • None

VC

  • None

People moves

  • None

☝️ Know about a deal or people move we don’t? Hit reply.

Together with Silversea

A Nova way to see the world

Embark on an indulgent 2024 cruise in Australia and New Zealand onboard Silversea’s newest innovative ship, Silver Nova. 

With a stunning open design offering breathtaking vistas and an unprecedented sense of space, prepare for a deeper connection with each incredible destination. Silver Nova offers voyages from Australia’s cosmopolitan cities to New Zealand’s silent fiords, uncovering vibrant coral reefs, blissful beaches, charismatic local wineries and much more. Learn more at Silversea.com.

The watercooler

If you like LOI, try The Edition

The Edition is a free afternoon newsletter that goes beneath the surface of the biggest stories in Australian business.