Australia’s Ecofibre (ASX:EOF) is still looking for a buyer for its hemp seed genetics company – and is now considering selling its Ananda Health business as well.
Ecofibre operates three vertically integrated hemp related businesses:
- Ecofibre Advanced Technologies (EAT) is involved in performance yarn extrusion, polymer compounding, and sustainable materials. The firm was formerly known as Hemp Black.
- Ananda Health – a US manufacturer of botanical and cannabinoid-based health products for human and pets.
- Ecofibre Genetics – supplier of seed genetics to the hemp fibre and grain industry in the US and Australia.
The company has a majority interest in life sciences business EOF-Bio as well, which is developing treatments for malignant and non-malignant gynaecological conditions such as endometriosis associated pain.
Ecofibre also owned Ananda Food Pty Ltd, a producer of human-grade hemp food products – the sale of which was completed in March last year.
Ecofibre Genetics has been up for grabs for a while. Although there was a buyer lined up, the company’s 3Q25 update released this week said the sale did not proceed due to acquirer’s inability to complete the transaction – and the company is now engaged with other potential buyers.
Also flagged in the update was Ananda Health has engaged HighBank Advisors LLC to look into a possible sale of all or part of the business.
“The value of the business is expected to be maximised in combination with a strategic partner in a similar industry, such as CBD, plant extracts or nutruceuticals [sic],” says Ecofibre. “There is also an expectation that the significant production capacity available in the business will be attractive to industry participants looking to onshore production in the US.”
Ecofibre says as at 31 March 2025, the company’s cash balance was $1.3m (31 December 2024: $3.9m). This figure included $0.2m held by EOF-Bio.
“In order for operations to continue and business objectives to be met, the sale of one or more of the above assets is required,” said the firm. “Timing of these sales will be critical.”
Ecofibre Limited was founded more than two decades ago. In 2015, Australian businessman and philanthropist Barry Lambert became involved with the firm, spurred on by the overall potential of hemp and the prospect of finding an alternative medication to treat his granddaughter’s epileptic condition. Mr Lambert became chair of the company until 2021, and then a non-executive director until 2023.
Mr Lambert was awarded a Member of the Order of Australia for significant service to cannabinoid medical research, to business, and to charitable organisations in 2022.
