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China’s CDH Investments sells New Zealand's The Better Health Company to Nestle

June 29, 2022 at 5:04:00 AM

Chinese alternative assets manager CDH Investments announced that it has agreed to sell The Better Health Company, one of New Zealand’s leading natural health products firms, to Nestle Health Science. The terms of the transaction, which is expected to close in the fourth quarter of 2022, were not disclosed. The exit comes five years after CDH invested in The Better Health Company, which owns the GO Healthy brand, the leading supplement brand in New Zealand’s advice channel; the Egmont Honey brand, one o the largest producers and markets of Manuka honey, and New Zealand Health Manufacturing, a supplement manufacturing business.

“Over a short 5 years we quadruped capacity, became a top-10 brand in the 10- times larger Australian market, planted strategic seeds for outsized growth across different markets in Asia (China, Vietnam, Singapore, Korea) and bolted on a Manuka honey business to leverage our distribution,” said Thomas Lanyi, co-head Global Crossborder Transactions at CDH.

The divestment also comes 16 months after financial adviser Macquarie Capital kicked of a buyer search for the vitamins, supplements, and manuka honey brand owner.

The flyer sent to potential buyer said GO Vitamins was the no. 1 premium vitamins brand in New Zealand, with 21% market share in pharmacies and health stores in the country.

CDH earlier said it has received inbound expressions of interest from both strategic and PE buyers for the business. The Chinese asset manager bought an 80% stake in the Wellington-based company in December 2016 for an undisclosed amount.

Greg Driscoll, chairman of The Better Health Company Group, said the acquisition represnts a significant milestone for The Better Health Company and is a huge endorsement of the quality of its products people, capabilities, and brands.

“We are excited about the future of our business and the opportunities that will come from partnering with a leading global nutrition group the likes of Nestle Health Science,” Driscoll added.

Nestle Health Science is engaged in advancing the role for nutritional therapy in the management of people’s health through investing in innovation and leveraging science.

It is supported in its work by the Nestlé Institute of Health Science, (NIHS) which undertakes fundamental scientific research into how nutrition can be used to help people improve and maintain their health. Nestlé Health Science has a range of nutrition solutions, diagnostics, devices and drugs that target health areas, such as paediatric and acute care, metabolic and obesity care, healthy ageing, and gastrointestinal and brain health.

- Deal Street Asia -

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