Nestlé buys Auckland-based dietary supplement company The Better Health Company
One of the world’s largest food companies, Nestlé, is to buy local dietary supplement maker The Better Health Company.
The Auckland-based company manufactures and sells vitamins, minerals and supplements to pharmacies and health food stores under the Go Healthy brand, as well as the mānuka Egmont honey brand.
Nestlé said the acquisition was strategic for its existing business and that the Auckland factory would help accelerate growth and enable the introduction of new products locally.
“This will strengthen our presence not only in New Zealand, but more broadly in the region, with the GO Healthy brand which is already present in Australia, China, Singapore, South Korea and Vietnam, and the globally recognized brand Egmont,” added Nestlé. said New Zealand chief executive Jennifer Chappell.
“This lineup of strong brands will take us well beyond our traditional food and beverage businesses and solidify our position in nutrition, health and wellness, while underscoring our commitment to the New Zealand.”
Nestlé’s supplement brands include Solgar, Optifast, Sustagen, Alfamino and Vital Proteins.
No acquisition price was disclosed.
Better Health was founded by Hastings entrepreneur Greg Driscoll and Wellington residents Lisa South and Kurt Renner in 2008.
A Singapore-based investment fund manager, China Diamond Holdings, took an almost 80% stake in 2017.
The transaction requires regulatory approval and is expected to close by the end of the year.