BY-HEALTH completes acquisition of Aussie probiotic firm Life-Space for $670m
BY-HEALTH has officially announced that it has completed the acquisition of Australian probiotics firm Life-Space Group (LSG) in a US$483.1m (A$670m) deal.
The acquisition plans were first made public in January this year, after LSG's founders signed an agreement to sell their shares.
Diversifying its current product range, driving sales growth, promoting cross-selling of BY-HEALTH’s and LSG’s products are the main reasons for the acquisition, the firm said in the announcement.
The acquisition of LSG is also a “key move” for BY-HEALTH’s entry into the global market, BY-HEALTH CEO Lin Zhi Cheng added.
Blackmores’ supply challenges under control as business plans move ahead, says CEO Henfrey
Blackmores’ insists its recent supply chain challenges, that were documented in its half yearly results six months ago, have now eased, with CEO Richard Henfrey adding that new measures would hopefully avoid future shortages.
While the report mentioned that the “the most serious constraints” concerned its supply of whey protein and fish oil, Henfrey said this was no longer the case.
“These two products received a fair bit of attention because they were two examples of supply challenges at the time of our half-yearly results announcement.
“There aren’t any ongoing issues with the supply of either ingredient, pleasingly. In fact, there was no single product that was out of stock long-term.
Bubs founder and MD to take over reins from outgoing CEO
Introduction:Bubs Australia’s current CEO Nicholas Simms has announced his resignation from the infant nutrition firm, with founder, MD and former CEO Kristy Carr to take over her previous duties once more.:
Carr had filled the role of CEO until Simms was appointed to the position in June 2017; he will step down next month as his contract with Bubs comes to a conclusion.
During his time as CEO, Bubs experienced significant progress, eventually becoming Australia’s top manufacturer of goat dairy products after its acquisition of NuLac Foods last December.
The $39m deal was part of the company’s aggressive expansion strategy for China, particularly in the goat milk product sector.
Bellamy's announces 37% sales growth, but still waiting for China go-ahead
Infant nutrition firm Bellamy's Organic has announced a 37% year-on-year growth in sales revenue to US$236.1m (A$329m) for the 2018 financial year, up from US$172.3m (A$240m) in 2017.
The company's profit after taxes stood at US$30.9m (A$43m), a radical improvement from the previous year, when it posted a statutory loss of US$717,635 (A$1m).
Bellamy's troubles in 2017 were characterised by boardroom drama that saw major shareholder Black Prince Private Foundation demanding the removal of four independent, non-executive directors.
Blis seals distribution deal for branded oral probiotic products in Australia and Asia
Oral probiotic firm Blis Technologies is targeting Australia and South East Asia expansion after securing a distribution agreement with iNova Pharmaceuticals (Singapore) for its branded products, and achieving Therapeutic Goods Administration listing for its BLIS K12 ingredient
CEO Brian Watson told us that Australia presented the most immediate opportunity for the New Zealand firm, while it continued to work with iNova to assess the landscape in South East Asia.
“We have been working hard to find the right partner for Australia and South East Asia for some time,” he said, “and iNova has considerable pharmaceutical and consumer healthcare experience. They are also very strong in the pharmacy channel, which is our priority.”