Body Science International, an Australian sports nutrition business, has acquired a local manufacturing plant previously owned by Halo Food Co.
In a LinkedIn post, Sheree Young, CEO of Humble Group-owned Body Science, announced the acquisition of the factory from the receivers of Halo Food, which entered voluntary administration in August.
Located in Sydney, the plant’s acquisition by Body Science International ensures ongoing employment for the staff affected by the recent events in Halo Food group, as mentioned by Young on LinkedIn.
Halo Food, which was headquartered in New Zealand, appointed administrators from KordaMentha and KPMG after selling its The Healthy Mummy weight-loss business, leaving three manufacturing facilities in Sydney, Melbourne, and Christchurch, New Zealand, before initiating the proceedings.
Body Science, based in Burleigh Heads, Queensland, was acquired by Sweden-based Humble Group in the summer of last year. The Australian company produces protein powders, bars, weight-management, and pre-workout supplements under the BSc brand. Humble Group’s acquisition ensures growth and support for the BSc Brand and other Humble Group brands in the region.
“Integrating manufacturing capabilities into our group in Australia is an exciting development and opens up further opportunities for support and growth for our BSc Brand and other Humble Group brands in our region,” said Young.
Humble Group’s entry into Australia was marked by the acquisition of Body Science, a company that sells its products through direct-to-consumer channels and independent retailers. Financial terms were not disclosed at the time, but Body Science was generating sales equivalent to SKr284m ($25.7m today) and profits based on EBITDA of SKr53m.
