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

 

Nestlé Health Science To Acquire The Better Health Company

Nestlé Health Science has agreed to acquire The Better Health Company (TBHC), the parent company of GO Healthy and Egmont, from CDH Investments and TBHC founding shareholders.

Under the transaction, Nestlé Health Science will acquire The Better Health Company in its entirety. This includes the GO Healthy brand, New Zealand’s leading supplement brand; New Zealand Health Manufacturing, an Auckland-based manufacturing facility for vitamins minerals and supplements; and the Manuka honey brand Egmont.

Nestlé Health Science’s Head of Oceania, Asia, Middle East & Africa region Paul Bruhn said that the acquisition is a strategic fit for Nestlé Health Science.

“GO Healthy and Egmont are trusted brands with a track record of strong growth which complement our global portfolio of active lifestyle and health & wellness nutrition brands very well. We also see the opportunity to accelerate growth in the region through the manufacturing facility in Auckland which will enable us to bring new products to local markets faster.”

Nestlé New Zealand CEO Jennifer Chappell said that the acquisition would strengthen Nestlé Health Science’s existing health and nutrition portfolio in New Zealand.

“This will strengthen our presence not just in New Zealand, but more broadly across the region, with the GO Healthy brand which is already present in Australia, China, Singapore, South Korea and Vietnam, and the globally-known Egmont brand. This range of strong brands will take us well beyond our traditional food and beverage business and solidify our position in nutrition, health and wellness, while underscoring our commitment to New Zealand.”

The move builds on Nestlé Health Science’s existing credentials, including a growing presence in New Zealand in vitamins, minerals and supplements category with the Solgar brand, which is available through select pharmacies, health food stores and online channels. Other Nestlé Health Science brands in New Zealand include Optifast, Sustagen, Alfamino and Vital Proteins.

The Better Health Company’s vitamins, minerals and health supplements factory in Auckland will allow Nestlé Health Science to share and leverage innovation and product development, allowing for new products to be made with regional considerations in mind.

Financial details are not being disclosed.

The transaction is expected to close in the fourth quarter of 2022. Closing is subject to regulatory approval.

About Nestlé Health Science

Nestlé Health Science, a leader in the science of nutrition, is a globally managed business unit of Nestlé. We are committed to redefining the management of health, offering an extensive portfolio of science-based consumer health, medical nutrition, pharmaceutical therapies, and vitamin and supplement brands. Our extensive research network provides the foundation for products that empower healthier lives through nutrition. Headquartered in Switzerland, we have more than 11,000 employees around the world, with products available in more than 140 countries.www.nestlehealthscience.com

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


TradeMe: Supply Sees Biggest Jump On Record While Prices Continue To Slump

The number of properties for sale across the country saw the biggest year-on-year jump ever in July, while prices continued to drop according to the latest Trade Me Property Price Index... More>>


Reserve Bank: Ongoing Monetary Tightening
The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 3 percent from 2.5 percent. The Committee agreed it remains appropriate to continue to tighten monetary conditions... More>>



Statistics: Weekly Earnings Rise As More In Full-time Employment

Median weekly earnings from wages and salaries rose by 8.8 percent to $1,189 in the year to the June 2022 quarter, Stats NZ said today... More>>



Electricity Authority: Imposes Interim Restrictions On Very Large Electricity Contracts

Consumers of electricity will be protected from potentially paying more than they should due to the impact of very large electricity contracts on wholesale prices, under urgent changes announced today by the Electricity Authority... More>>


Westpac: Economic Overview, August 2022 – Pushing Through

The New Zealand economy faces some lean growth in the year ahead as households’ budgets are squeezed, according to Westpac’s latest Economic Overview... More>>


Kiwi Group Holdings: Fisher Funds Acquires Kiwi Wealth Business

Kiwi Group Holdings Limited (KGHL) today announced the sale of Kiwi Wealth to Fisher Funds for NZ$310 million... More>>