Know the business a little, Jako.
They didn't pay overs like they did for Maggie but I don't think they got it cheap either. You could look at the two acquisitions and think, pretty decent sized market cap for a cash burner and a business that is maybe slightly profitable but little or no free cash flow. The upside lies entirely with Laura McBain and backing her ability to scale the Paris Creek distributions across Oz. They've had a recent plant upgrade to increase production, paid off the debt as part of the LON acquisition and maybe they'll do alright. I'd lean towards waiting a while to see them get some runs on the board first. Also worth remembering they're not an infant formula company and really shouldn't be compared (have seen a bit of that). Really is a key person gig, I would have thought but at least they secured someone who's done it before at this level.
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