IPO - Healthia Limited, page-7

Exaclty, go back and look at GXL before the petbarn fiasco ("merger") and you'll see what is possible.

The shopkeepers (petbarn) couldn't organise a piss up in a brewery and are lucky to have a takeover bid for what is still known as greencross although it is anything but .  What a disaster after the supposed merger. 

The theory is with Richards in the background it'll be a replicatable mode with HLA, once they begin the acquisiton and growth path for what was the Greencross model pre Petbarn (hugely profitable ). I can see the same happening here.

Watching and waiting for an entry. Will be a solid buy and hold for next few years.