Markets

Me Today gone tomorrow without cash top-up

Dan Brunskill
Mon, 29 Nov 2021

Me Today gone tomorrow without cash top-up

Grant Baker (left) and Michael Kerr (right) will invest $3.7m while Terry Jarvis, the former King Honey owner, will contribute the balance. (Image: supplied)

Dan Brunskill
Mon, 29 Nov 2021

Me Today’s founders and the former owner of King Honey will inject $6 million of new capital to offset lower-than-expected income from the acquisition in 2022.The company today cut its sales expectations for the honey business – which it purchased in June – to between $5m and $7m in the 2022 financial year, down from $10m.The $10m figure was already substantially less than the $16m to $21m of sales expected when Me Today first acquired King Honey, due to a key customer having high inventory.Me Today said the Chinese channel pa...

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