Yowie Backs Off Bid For Keybridge Capital

Headquartered successful Perth, Yowie markets its namesake products successful Australia and nan US Credit: Keith Homan / Shutterstock.com.

Australia-based confectioner Yowie has decided against moving to get Keybridge Capital, its largest shareholder.

Yowie’s projected offer, announced successful May, contained a bid of conditions, including that Keybridge would not effort to alteration nan creation of nan confectioner’s board.

However, an EGM convened by Keybridge was held connected 27 June wherever a information linked to nan make-up of Yowie’s committee was sparked. After nan meeting, Yowie nary longer listed institution caput John Patton and MD Nick Bolton arsenic portion of nan board.

Bolton, a managing head astatine Keybridge, was appointed CEO of Yowie past year aft nan investor acquired 78% of nan business.

In a stock-exchange filing coming (10 July), Yowie said: “Yowie notes that, pursuing nan result of nan bonzer wide gathering held connected 27 June 2025, nan ‘no alteration to Yowie committee composition’ information to nan bid had been triggered.

“After considering each aspects of nan bid and nan bidder’s statement, it is not successful Yowie’s liking to proceed pinch nan bid.”

The institution added: “Accordingly, Yowie does not intend to proceed pinch nan despatch of nan bidder’s connection arsenic to do truthful would beryllium futile, including because nan bid would adjacent pinch a defeating information breached.”

Yowie’s connection was authorised by board Antony Catalano and Sulieman Ravell.

In a abstracted filing, nan institution said Patton’s domiciled arsenic institution caput ended connected Monday. Yowie added Patton and Bolton had resigned arsenic board connected 18 June.

Keybridge entered management connected 9 February, pursuing Yowie’s request for repayment of an outstanding indebtedness by 7 February. The play of outer management ended successful May.

Yowie, headquartered successful Perth successful Western Australia, markets its namesake products successful Australia and nan US to “promote learning, knowing and engagement pinch nan earthy world”, featuring Yowie characters specified arsenic Rumble and Squish. It outsources accumulation and distribution.