The Australian clothes to beverages conglomerate Signature Brands (SBL) has said it will be acquiring the health drink producer and retailer Pulp Juice for A$2m.

"The acquisition of Pulp Juice fits closely with SBL's strategy of developing lifestyle brands in the beverage and apparel areas," said SBL.
"SBL plans to accelerate the current growth plans for Pulp Juice in Australia and overseas."

Pulp Juice has six retail outlets on the east cost of Australia, and sells health-based drinks like fresh and bottled juice, smoothies and vitamin supplements.

SBL floated on the Australian Stock Exchange yesterday. SBL closed 300% higher (200% premium increase) than its issue price, closing at 60 cents per share on its first day of trading.   SBL's stable of brands include Koala Blue, Brian Rochford, 'Olivia' by Olivia Newton-John and Ozi Varmints.

"We're very pleased with the success of SBL's debut on the ASX.  With plans already in place to expand our brands, we look forward to even better things in the future and maximising shareholder value" said Ian Duffell, chairman of Signature Brands Limited.