RiverFort Global Opportunities has struck a deal to acquire a portfolio of health and wellness businesses from S-Ventures, in a reverse takeover that will see the AIM-listed investment vehicle transform into an operational company trading under the new name Tooru plc. The acquisition includes plantain snack brand We Love Purely, protein bar manufacturer Pulsin, gluten-free foods specialist Juvela, and e-commerce consultancy Market Rocket.
The transaction is expected to deliver immediate revenue streams and operating cashflow, with RiverFort’s board positioning the deal as a direct response to long-standing investor frustration. A placing of up to £1m at 0.75p per share has been launched to support the transaction, with £0.5m already committed. In total, over 825 million new shares will be issued across consideration, debt conversion and advisory fees. Scott Livingston, founder of S-Ventures, will join the board and emerge as a significant shareholder, prompting a Rule 9 waiver request to sidestep a mandatory offer under the Takeover Code.
RiverFort had been suspended from trading on AIM since March under Rule 14, which mandates such action during a reverse takeover process. Following the publication of its admission document, the company’s shares were restored to trading at 7:30am today (9 May). A general meeting will be held on 27 May to approve the transaction and accompanying resolutions. If passed, the enlarged group will relaunch as Tooru, signalling a new operational chapter in the health and wellness sector.