The nutrition giant has agreed to acquire the Auckland-based manufacturing facility for vitamins minerals and supplements
TBHC's brand GO Healthy
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," Bruhn said. "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 and Egmont are trusted brands with a track record of strong growth
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," Chappell added. "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.