Vitaco is an Australasian based manufacturer, distributor and marketer of highly recognisable and innovative Sports Nutrition, Vitamins & Supplements and Health Food & Beverages brands.  Vitaco also has a well-established and growing international business with a focus on Asia, the Middle East and Latin America. Vitaco was established in 2007 following the merger of Healtheries and Nutra-life.

Investment highlights included:

  • Favourable long term consumption dynamics
  • Strong brands in all key channels
  • Innovation and new product development
  • Integrated supply chain
  • High cash flow generation with minimal capital expenditure requirements

Next Capital worked closely with the management team to create value by:

  • Secured 100% ownership of Aussie Bodies, #1 in the Australian sports nutrition market
  • Acquisition of Musashi securing Vitaco’s #1 position in the Australian sports nutrition market.
  • Consolidated and upgraded both the manufacturing and warehouse facilities. Subsequently in-sourced bar manufacturing capability, delivering a material improvement in cost base
  • Established a presence in China through the development of uniquely Australian and New Zealand products that are popular amongst Chinese consumers
  • Organisational restructure to align business on category rather than functional basis resulting in improved accountability and more efficient use of resources
  • Rationalisation of supplement brands and re-launch into Australian pharmacy
  • Bolstered the senior leadership team through the recruitment of the CEO, CFO and GM Operations

Vitaco was successfully IPO on the ASX in September 2015.  Vitaco was subsequently taken private in December 2016 by a Chinese based consortium comprising Shanghai Pharmaceutical Holdings and Primavera Capital.