Australian private equity firm and owner of Vitaco Health Group, Next Capital, has reportedly appointed JP Morgan, to test investor interest for Vitaco ahead of a potential initial public offering.
Fairfax Media reports Vitaco management is expected to meet with a select group of fund managers who have expressed interest in the business. According to Fairfax, Next Capital will make a decision on a float after the August reporting season.
It was reported in April that Vitaco was also considering a sale after gaining interest from a number of international players, with the offers believed to be mainly from Asian food companies.
Vitaco was formed in 2007 following the merger of supplement and sports nutrition manufacturer, Nutra-Life Health and Fitness, and New Zealand-based health food and supplement manufacturer, Healtheries of New Zealand.
Vitaco brands include Nutra-Life, Wagner, Healtheries, Abundant Earth, Balance Sports Nutrition, Aussie Bodies, Bodytrim, and Biolane.
