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 has three vertically-integrated hemp businesses.
- Ecofibre Advanced Technologies is engaged in polymer compounding and sustainability materials. Hemp Black used to be the company’s name.
- 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 also has a major interest in the life sciences firm EOF-Bio, which develops treatments for malignant or non-malignant gynaecological disorders such as pain associated with endometriosis.
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 is up for sale for quite some time. 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.
Ananda Health engaged HighBank Advisors LLC in order to examine the possibility of selling all or part the company.
“We expect the value of our business to be maximised in conjunction with a strategic partnership in an industry similar to CBD, plant-based extracts, or nutraceuticals [sic],” says Ecofibre. The significant production capability available to the company will also be appealing to participants in the industry looking to move production to the US.
Ecofibre reports that as of 31 March 2025 the cash balance at Ecofibre was $1.3 million (31 December 2020: $3.9 million). The figure includes $0.2m that EOF Bio held.
According to the firm, “to continue business and achieve the objectives of the company it is necessary to sell some or all of these assets.” Timing is crucial for these sales.
Ecofibre Limited is a company that was established more than twenty years ago. Barry Lambert, an Australian businessman, philanthropist, and investor, became involved in the company’s activities in 2015. He was motivated by the potential for hemp, and his desire to find a medication that could treat the epilepsy of his granddaughter. The company was chaired by Mr Lambert until the year 2021. After that, he became a non executive director up until 2023.
M. Lambert has been awarded the Order of Australia in recognition of significant services to cannabinoid-related medical research and business. He also received this award for his charitable work.