NewH2, the innovation arm of Health & Happiness Group, has acquired a minority stake in Australian CBD company Bod Australia in order to further commercialize Bod’s CBD products.
WHO: Bod Australia works with plant-based extracts, with specific expertise in leveraging the health benefits associated with cannabidiol and hemp. Bod is rapidly building an integrated cannabidiol business, underpinned by agreements with international counterparties Linnea SA, a leading Swiss botanicals extracts manufacturer, and iX Biopharma Limited, a late-stage Singapore-listed pharmaceutical company. Bod is actively developing a range of over-the-counter and prescription products based on its unique, standardized, pharmaceutical-grade CBD extracts. The company has a large distribution footprint in Australia, selling prescription and OTC products to over 1,000 retail outlets, including pharmacies, retail stores, and healthcare chains.
NewH2 was founded in 2018 with initial funding of US$60MM as a corporate venture by H&H Group to support entrepreneurs who are using advances in technology and science to develop innovative advanced nutrition solutions. NewH2 invests in early- and growth-stage entrepreneurial businesses that are developing innovative brands, products, technologies, or business models in the fields of health and wellness aligning with H&H’s ambition to become a global leader in premium family nutrition and wellness. The fund provides the overall H&H Group with a complementary alternative to R&D and M&A, by expanding the Group’s innovation opportunities and allowing it to keep abreast of new, potentially disruptive products, science, trends, and technologies. The group recently took a minority stake in AI-based Proven Skincare.
H&H Group, founded in 1999 with a vision of contributing to healthier and better lives, has a proven track record in growing entrepreneurial and disruptive brands into powerful and more global offerings. Building its success on “premium, proven, and aspirational” products, it has brought together six brands to date, all created by entrepreneurs with the same vision of providing infants and adults with health and wellness: Biostime, Swisse Wellness, Healthy Times, Dodie, Good Goût, and most recently, Aurelia Probiotic Skincare. It operates across 90 locations and has over 2,000 employees worldwide.
IN THEIR OWN WORDS: Laetitia Garnier, Executive Director and CEO of H&H Group, said in a statement, “We are excited for NewH2 to take this step with Bod Australia and to be investing in this high-growth industry, particularly in Australia where there is a clear commitment and ambition to be world-leading in industry development and exporting. We have taken our time to advance a position in this niche industry, but we have always believed in its huge potential.”
“Our new partner Bod is leading the way with clinical trials and innovation programs, and together we are well-positioned to grow and to further commercialise Bod’s CBD products in different global markets. This agreement marks the first time that H&H Group will utilise CBD and hemp ingredients in their products, which comply with all local and applicable laws and regulations across relevant markets.”
“Additionally, this investment aligns with our sustainability journey and our desire to consider the environmental footprint of our business and operations. This unique industry is renewable, sustainable and clean which is important to us.”
Bod Australia CEO Jo Patterson said in a statement, “This development is game changing for Bod and we are delighted to welcome H&H Group as a strategic investor and new commercial partner. This agreement provides Bod with financial flexibility and considerable validation of our work to date and strategy of working with best in class operators and partners.”
“H&H Group is undoubtedly the global leader in supplements and vitamins. The group boasts a broad distribution network and suite of established brands. We are thrilled that they have chosen our products and formulas to broaden its product suite. Bod now has the financial flexibility to capitalise on a number of value catalysts in the near term.”
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