"Functional food" maker The Food Revolution has made a solid debut to trading on the Australian share market.
Shares in "functional food" maker The Food Revolution Group have made a healthy start to trading on the Australian share market.
The Food Revolution listed on the Australian Securities Exchange (ASX) through a reverse takeover of West Australian minerals explorer Crest Minerals, which last traded at 17 cents.
Shares in The Food Revolution closed three cents or 17.7 per cent above Crest's last price, at 20.0 cents.
More than 7.2 million shares had been traded.
In January, Crest Minerals raised $12 million in an oversubscribed offer of shares to professional investors at 10 cents each to acquire food processor Langtech, and then changed its name to The Food Revolution Group.
Functional foods and beverages are described as containing ingredients that provide a health benefit beyond basic nutrition.
They may contain fibre, vitamins, proteins, or bioactives (a compound that has an effect on our bodies).
The Food Revolution Group makes high-quality juices, fibres (supplements), infused fruits, fruit waters and bioactives for the functional food and beverage and nutraceutical markets.
"We see significant opportunity to capitalise on the high-growth functional food, beverage and nutraceutical markets in Australia and in key international markets, such as China, the United Kingdom, and the United States," The Food Revolution Group chief executive Bill Nikolovski said on Friday.
"We have been building strong relationships with strategic partners who have existing channels to market which we expect will provide us with significant opportunity for international growth."
The Food Revolution Group has fruit and vegetable processing operations at Mill Park in Victoria, and at Roxdale in New Zealand.
Its "Juice Lab" and "Hi-Fi" brands are carried in major supermarkets.
A key international target market is China, where consumers are becoming increasingly conscious of health and food safety.
Australia has a reputation as a manufacturer of healthy, safe, clean and "aspirational" food and drinks.
The Food Revolution Group is developing a range of food and drinks for the Chinese market.