Here’s a celebrity couple we never saw coming.
Well known Sydney-stockpicker Geoff Wilson is getting cosy with ASX-listed Longtable Group – the company best known for its rights to celebrity cook Maggie Beer’s range of chutneys, sauces, stocks and the like.
Wilson Asset Management boss Geoff Wilson has a new interest in his private investment portfolio. James Alcock
Wilson snapped up 13.6 million shares owned by Australian investment firm CVC Limited on Thursday, and will lob a substantial shareholder notice in coming days.
It is understood Wilson already owned some shares in the company and his buying on Thursday took his stake to close to 10 per cent.
Wilson said the investment was for one of his personal companies and had nothing to do with his $3 billion-plus funds manager Wilson Asset Management, which invests in Australian and global equities via a collection of listed investment companies.
“It’s a nanocap that was uninvestible in for the WAM funds,” Wilson told Street Talk on Thursday night.
Maggie Beer sold her gourmet foods business to Longtable last year.
Longtable has a $40 million market and hasn’t made a profit in the past 10 years, according to Morningstar data. Longtable acquired Maggie Beer and her husband Colin’s business last year, having taken an initial stake in 2016.
The 13.6 million shares crossed via Bell Potter on Thursday. The deal was done at 17.5¢ a share, on a day when the stock closed up 33.3 per cent to 20¢.
The trade came as Longtable said it was on track to be EBITDA positive for financial year that finished on June 30.
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