Halo Food Co
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Halo Food Co., listed on the Australian ASX, was a New Zealand-headquartered dairy, health-and-wellness and nutritional products company (it traded as Keytone Dairy until 2021). It manufactured and exported formulated powdered products and ready-to-drink protein drinks for third-party private-label clients and its own brands — KeyDairy, Super Cubes, Tonik protein shakes and bars, and Gran's confectionery — operating three manufacturing facilities in Sydney and Melbourne plus one at its Christchurch headquarters.
02 / Halo Food Co FAILURE REASONS
Failure reasons
Halo Food collapsed after a strategic review launched in March 2023 failed to find alternatives. The company had stretched itself with acquisitions: it bought the Healthy Mummy weight-loss brand in February 2022 for $17 million, then sold it 18 months later for $588,540 — a fraction of what it paid. With no buyer, divestment or partnership found, administrators were appointed in August 2023, receivers (KPMG) took day-to-day control, and creditors voted to wind the company up in January 2024.
03 / EVENT HISTORY
Events in the structured record
- Asset restructuring
ASX Halo Food Co entered voluntary administration after strategic review failed and financial support withdrawn; KordaMentha administrators and KPMG receivers appointed (halt 24 Aug).
- Liquidation
creditors voted 30 Jan 2024 to wind up; Michael Korda and Robert Hutson of KordaMentha appointed liquidators after ~5 months administration.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
In August 2023 Halo Food Co. appointed voluntary administrators (KordaMentha) after a strategic review found no alternative options.
- 02
Receivers and managers (KPMG) took day-to-day control of the assets and trading operations; the Sydney plant was sold to Body Science in October 2023.
- 03
On January 30, 2024 the creditors voted to wind the company up; it entered liquidation with KordaMentha as liquidators and was later removed from the ASX official list.