Nestlé Health Science to acquire The Better Health Company

Nestlé Health Science has agreed to acquire The Better Health Company (TBHC), the parent company of the GO Healthy, Egmont Honey and New Zealand Health Manufacturing businesses from CDH Investments and the group’s founding shareholders.

Under the transaction, Nestlé Health Science will acquire TBHC in its entirety.

TBHC chairman Greg Driscoll said the transaction was a significant milestone.

“It is a huge endorsement in the quality of our products, our people, our capabilities and our brands.

We are immensely proud of what our team has achieved”.

“A key part of the success of GO Healthy and Egmont Honey is the reputation that New Zealand has as a producer of high-quality food and health products. While ownership of the brands will change, GO Healthy and Egmont Honey will continue to be proudly New Zealand-produced at our Auckland and New Plymouth production sites”.

“We are confident that these businesses will continue to grow and develop under the new ownership, benefiting from the significant expertise, capital and networks which Nestlé Health Science brings. The business has excellent growth prospects, particularly in Asia, and these will be enhanced by partnering with a leading global nutrition group the likes of Nestlé Health Science.”

Nestlé Health Science’s Head of Oceania, Asia, Middle East & Africa region Paul Bruhn said the acquisition is a great strategic fit for Nestlé Health Science.

“We are delighted to be adding TBHC to our regional business. TBHC has built the GO Healthy and Egmont Honey brands into excellent businesses and with its manufacturing operations we will be well-placed to grow these brands even further working with Nestlé Health Science”.

“This is our first acquisition ever of a company based in the Asia, Oceania and Africa region and we are excited about the opportunities that this offers us. It’s a perfect fit into our mission of ‘empowering healthier lives through nutrition’.”

Terms of the transaction have not been disclosed. It is expected to close in the fourth quarter of 2022. Closing is subject to regulatory approval from the Overseas Investment Office.

Why is TBHC being sold?

The company has excellent growth prospects and Nestlé Health Science saw an opportunity to bring much greater networks, capital and in-market expertise throughout Asia to develop the brands, new products and the company through the next phase of its development.

Where is TBHC based?

TBHC has staff based in Auckland, Wellington, Taranaki, Melbourne and Singapore. It has manufacturing and processing facilities in Auckland and New Plymouth.

How many staff does TBHC employ across its various businesses?

TBHC employs around 270 staff across its various businesses.

Are any job losses expected as a result of this transaction?

No. This transaction is about enhancing the company’s growth prospects.

Will TBHC’s Auckland and Taranaki production and manufacturing facilities continue to operate?

Yes. This transaction is about enhancing the company’s growth prospects.

What regulatory approvals are needed?

Approval from the Overseas Investment Office

Are there any other approvals required?

No