Nuchev Limited (ASX:NUC) agreed to acquire bWellness Pty Ltd from Brauer Natural Medicine Pty. Ltd. and others for AUD 7 million on May 17, 2024. The acquisition is subject to the shareholder approval of Nuchev Limited (ASX:NUC).

The cash consideration will be funded by a AUD 5.1 million pro-rata entitlement offer. Wilson Corporate Finance Limited acted as a financial advisor and HWL Ebsworth Lawyers Pty Ltd. acted as a legal advisor to Nuchev Limited (ASX:NUC). bWellness Pty Ltd reported the total revenue of AUD 9 million and EBITDA of AUD 1.3 million.

The deal is expected to close on June 28, 2024.