Vitaco Health Group—the company behind nutritional products including Aussie Bodies, Nutra-Life, Healtheries and Musashi—today made its debut on the ASX, positioning the company for the next phase of its growth.
Vitaco’s IPO, which raised $231.6 million, closed heavily oversubscribed following broad support from a range of brand name Australian and Asian fund managers as well as strong support from retail investors.
The funds raised from the IPO will underpin the next phase of the company’s growth as it consolidates its position in the Australian and New Zealand markets and continues its rapid expansion into international markets, including China, Brazil and the United Kingdom.
Vitaco has a diverse portfolio of brands and operates across two divisions: Vitamins and Supplements; and Sports and Active Nutrition and Health Foods.
Key brands in the Vitamins and Supplements division include: Healtheries, Wagner and Nutra-Life. In the Sports and Active Nutrition and Health Foods division key brands include: Aussie Bodies, Musashi, Balance, Bodytrim, Healtheries and Abundant Earth.
Commenting on the ASX debut, Vitaco CEO Ryan d’Almeida said: “We are delighted to mark the next chapter in Vitaco’s growth with our ASX listing today and are particularly pleased to welcome our new Vitaco shareholders, including a number of highly regarded Australian, New Zealand and international fund managers.
“Investors have responded enthusiastically to the company’s solid growth prospects, as consumers both in Australia and around the world pursue increasingly healthy lifestyles.
“The well-deserved reputation of Australia and New Zealand as a ‘clean and green’ manufacturer of nutritional products provides Vitaco with a competitive edge, particularly in the high-growth Chinese market, which is demonstrating an increased appetite for products such as milk biscuits and nutritional supplements.
“Each day more than a third of Australians take some form of dietary supplement, which underscores well the strength of the Australian and New Zealand markets for vitamins and dietary supplements, which is valued at more than two billion dollars.
“The burgeoning sports nutrition market in Australia and New Zealand is now the world’s second largest, valued at more than eight hundred and forty million dollars.”