Body Science International, a sports nutrition business in Australia, has acquired a local manufacturing plant previously owned by Halo Food Co.
Sheree Young, the CEO of Humble Group-owned Body Science, said in a LinkedIn post the factory had been acquired from the receivers of Halo Food, which went into voluntary administration in August.
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Australian media reported the plant is located in Sydney. Young said on LinkedIn “the acquisition by our group assures ongoing employment for the staff affected by the recent events in Halo Food group”.
Sydney-listed Halo Food, which was headquartered in New Zealand, said in August the company had appointed Rahul Goyal, Kate Conneely and Michael Korda of KordaMentha as administrators. The receivers were accountancy house KPMG, led by David Hardy, Ryan Eagle and Emily Seeckts.
Before initiating the proceedings, Halo Food had sold its The Healthy Mummy weight-loss business. Halo Food had three manufacturing facilities in Sydney and Melbourne and another in Christchurch, New Zealand.
Body Science, based in Burleigh Heads in Queensland, was acquired by Sweden-based Humble Group in the summer of last year. The Australian business produces protein powders and bars under the BSc brand, along with weight-management and pre-workout supplements.
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By GlobalData“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,” Young said.
“Humble Group already have extensive manufacturing capabilities in FMCG throughout Europe and the investment in Australia is a testament to the opportunity here and the ongoing support for Australian manufacturing of BSc products.”
Body Science, which sells its products via the direct-to-consumer channel and independent retailers, marked Humble Group’s entry into Australia. Financial terms were not disclosed at the time, although the Swedish company said Body Science was then generating sales equivalent to SKr284m ($25.7m today) and profits based on EBITDA of SKr53m.
A spokesperson for Humble Group confirmed to Just Food the factory transaction by Body Science is expected to be completed in the “next week or so”.
