Australia’s health and wellness sector is poised for a shake up as Wellnex Life and its extensive portfolio of more than 15 brands enter the Australian Stock Exchange.

The company, which was formerly nutritional dairy outfit Wattle Health, is set for relisting after undergoing a corporate refresh designed to reposition the business.

The newly-named Wellnex Life will enter the ASX with annualised revenues of roughly $20+ million and an extensive network of pre-existing distribution channels, including a ten-year deal with the nation’s largest pharmacy chain, Chemist Warehouse.

Wellnex Life also has distribution agreements with Coles, Woolworths, Priceline Pharmacies, Sigma Pharmaceuticals, and Australian Pharmaceutical Industries (API).

The BSA solution

The decision to acquire health and wellness branding company BSA, followed an extensive strategic review to identify new market opportunities, which would complement the then-Wattle Health’s existing product range.

BSA was founded by Zack Bozinovski in 2010, and has since grown to become a leading figure in the $5.6 billion health and wellness market (which is expected to grow to $7 billion by the end of 2023). 

Wattle Health and BSA have a proven track record working together, with BSA successfully getting Wattle’s Uganics brand onto the shelves of leading retailers around the country.

Wellnex Life CEO George Karafotias, said the acquisition remains true to what Wattle Health originally set out to achieve – “innovate, develop, and grow Australian health and wellness products”.

“BSA, with its product development expertise and strong retail customer relationships across pharmacy and grocery, positions us strongly to achieve this at greater scale,” he added.

Wellnex Life intends to target the significant vitamin and dietary supplements segment of this market, which is currently worth roughly $3.1 billion domestically, with plans to expand into the  $1.31 billion sports nutrition segment going forward.

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Reach Corporate are engaged as a Corporate Advisor for Wellnex Life and Reach Markets or Reach Corporate may receive fees depending on whether an offer is taken up by investors.

Sources:

• ASX Announcement: Wattle Health Announces Acquisition of Brand Solutions Australia
• ASX Announcement: Director’s Address
• ASX Announcement: Change of Company Name to Wellnex Life Limited