Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Next Capital Acquires NZ Nutra-Life

Media Release 21 December 2006

Next Capital Makes Fourth Investment, Acquires NZ Nutra-Life to Create NZ$170m ($A150m) Trans-Tasman Health Business

Private equity firm Next Capital has acquired trans-Tasman health food and supplement manufacturer Nutra-Life to create one of the largest operators in the manufacture and distribution of supplements, healthy foods and healthy drinks in Australasia, valued at approximately NZ$170 million (A$150million).

The acquisition—the fourth by recently established private equity firm Next Capital— follows the acquisition in October 2006 of health food and supplement manufacturer Healtheries.

The two companies have complementary business models with Healtheries having a strong presence in grocery and supermarket channels and Nutra-Life distributing most of its products through the health food store and pharmacy channels.

The businesses will continue to target their distinct channels and it is anticipated that the new group will create a strong platform for future expansion. The individual businesses will be run by current CEOs Mark Mathews and Sarah Kennedy.

Next Capital partner John White said “The combined businesses of Nutra-Life and Healtheries will create a formidable operation that is well-placed to capitalise on opportunities within the rapidly growing health and well-being sector with a growth focus on Australasia and other international markets.

“Having Nutra-Life and Healtheries businesses under one owner will also enable the business to consolidate its number #1 presence in all major distribution channels in New Zealand and provide a solid platform for continued Australasian expansion. We are pleased to back Sarah and Mark as they are two of the most experienced managers in the Australasian health food sector

Nutra-Life CEO Mark Mathews said: “We are delighted with this investment, which will enable Nutra-Life to realise the next phase of its development. We have been impressed by Next Capital’s approach and their plans for the future direction of the combined businesses. With their insight and expertise we believe we can further strengthen our leading position in the Australasian market.”

--

About Next Capital

Next Capital was established by three highly experienced principals – Sandy Lockhart; Patrick Elliott; and John White- who have between then more than 30 years of private equity experience and were formerly responsible for Macquarie Bank’s private equity division, Macquarie Direct Investment Limited.

Next Capital launched in October 2005 having raised an initial fund of $265 million from institutional investors. The Nutra-Life acquisition is the fourth investment for Next Capital with company having previously acquired Healtheries, a 75 per cent of New Zealand equipment rental and plant management services company, Hirepool and 55.6% of Brisbane-based steel manufacturer and distributor SteelForce earlier in the year.

At Macquarie they were responsible for a range of successful investments including: JB Hi-Fi; Invocare and The Reject Shop.

About Nutra-Life

Nutra-Life consists of Nutra-Life Health & Fitness, Nutra-Life NZ Ltd and Health international. It manufactures supplements and health foods with strong brands such as Nutra-Life, Kordels, Balance, Wagner and Trilogy.


About Healtheries

Healtheries was established in New Zealand in 1904. Originally a speciality flour miller the company has grown into a market leader in supplements, functional beverages and healthy foods. The company employs over 200 staff and exports its products to more than 20 countries including Australia, UK and Singapore.

Healtheries has a number of well known brands and a dominant position in the New Zealand supplement, healthy foods and beverages market. This complements its market leading position in sports nutrition in Australia.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news