So Natural Foods Australia has said it is raising A$5m (US$3.5m) though the issue of unlisted convertible notes in order to provide funding for its new joint venture Thorpedo Foods.
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Thorpedo Foods, a joint venture with Olympic swimmer Ian Thorpe, is geared towards the nutritional food and beverages market. Its initial focus is the Australian launch of “Thorpedo Advanced Hydration Water” and developing new products and markets in China and Japan.
So Natural said its investment in Thorpedo Foods is part of its strategy to develop a leading position in the functional foods market in Australia.
