Nestle has bought New Zealand business The Better Health Company (TBHC), including its Manuka honey brand Egmont, the Go Healthy supplements brand and an Auckland manufacturing facility.
The purchase, for an undisclosed amount, is via the Swiss-headquartered multinational’s Nestle Health Science unit, which owns a portfolio of science-based consumer health, medical nutrition, pharmaceutical therapies, and vitamin and supplement brands including Optifast, Sustagen, Alfamino and Vital Proteins.
Paul Bruhn, Nestle Health Science’s head of Oceania, Asia, Middle East & Africa region, described TBHC as a strategic fit for the company.
“Go Healthy and Egmont are trusted brands with a track record of strong growth which complements our global portfolio of active lifestyle and health and 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.”
Go Healthy is already sold in Australia, China, Singapore, South Korea and Vietnam. Nestle New Zealand CEO Jennifer Chappell said both acquired brands can now be distributed in more international markets. On the domestic front, Go Healthy and Egmont would allow Nestle to strengthen its position in the nutrition, health and wellness category, as well as underscore its commitment to New Zealand.
TBHC was previously majority-owned by a Chinese fund manager CDH Investments, with the balance of 23 per cent believed to be owned by Egmont Honey’s founders, the Annabel family.
Chairman Greg Driscoll described the sale as “a huge endorsement” of the quality of its products, people and capabilities.
While the value of the transaction was not disclosed, the National Business Review suggested it was in excess of NZ$100 million (A$90.6 million).
The sale is subject to the approval of the Overseas Investment Office.