MELBOURNE, Australia--(BUSINESS WIRE)--PGT Healthcare LLP, the international joint venture between The Procter & Gamble Company and Teva Pharmaceutical Industries Ltd., and Swisse Wellness, Australia’s market-leading wellness brand, today announced a collaboration that will be transformational for both companies. PGT Healthcare will partner with Swisse Wellness to begin expanding its range of more than 100 vitamins, minerals and supplements (VMS) globally over the next few years.
Swisse Wellness is the fastest growing OTC (over-the-counter) company in the world in the last five years and has led the VMS market in Australia to such an extent that the country is now the best performing in the VMS category outside of the emerging markets.
Procter & Gamble and Teva Pharmaceuticals formed the PGT Healthcare joint venture in November 2011. PGT Healthcare manufactures and markets more than 200 consumer healthcare brands in more than 70 countries around the world.
The new licensing deal announced today will integrate both companies’ core strengths and capabilities to enable the rapid expansion of the Swisse brand of premium quality VMS products into new countries, creating a new global ‘megabrand’ together. The collaboration will benefit from:
- the deep consumer understanding, unrivalled marketing scale advantages, and global regulatory and go-to-market expertise of PGT Healthcare, and
- the VMS product development expertise, portfolio of more than 100 premium products, and unique marketing model of Swisse Wellness.
Swisse Wellness products are currently available in Australia, New Zealand and the United States. The collaboration with PGT Healthcare encompasses all new markets in Europe, Asia and Latin America.
This milestone deal is one of the biggest licensing deals involving an Australian company – certainly the biggest in Australia for many years. It will see the Swisse Wellness vitamins and supplements range rolled out into parts of Europe and Asia in the next couple of years, with additional launches planned in more than 20 countries around the globe by the end of the decade. The collaboration will endeavor to replicate the success of Swisse Wellness in Australia to become one of the leading players in the $80 billion global VMS market.
Melbourne, Australia will remain the global headquarters of Swisse Wellness – where the company began and has operated from its inception in the 1960’s. The global expansion is expected to result in job creation for Swisse Wellness in Australia.
“We are delighted to be partnering with Swisse Wellness,” said PGT Healthcare Chief Executive Officer Briain de Buitleir. “Their track record of growth in Australia is truly exceptional. We look forward to working closely with them to replicate this success around the globe,” he continued.
Swisse Wellness Chief Executive Officer Radek Sali is likewise thrilled at the landmark agreement: “I would like to thank our friends at PGT Healthcare as we embark on an amazing journey together. They are the ideal partners to expand Swisse Wellness around the world. They have deep understanding of the world’s diverse consumers, impressive go-to-market capabilities and they share our values of improving the health and wellness outcomes of our customers.”
“This is a wonderful moment in our company’s history and each and every one of our Swisse Wellness team has helped us to get to this day,” said Mr. Sali. “We are pleased that the success of our business and strength of the brand in Australia has led to this global opportunity. Swisse will truly be fulfilling one of our own key passions as a business - to make millions more people around the world healthier and happier,” he said.
The Premier of Victoria, The Hon Dr Denis Napthine, said the announcement was another example of a great Victorian business demonstrating its global capabilities.
”This represents a vote of confidence in the talent and expertise Victoria brings to the table, and will generate new jobs and investment in the state. The expansion of the Swisse HQ in Collingwood to double its size over the next few years shows that advanced manufacturing in Victoria is alive and well and growing across high-quality, well-designed consumer products. Backed by the State's excellence in research and development, companies such as Swisse show that there is plenty of opportunity for innovative local businesses. This model demonstrates a clear pathway for Victorian manufacturing businesses looking to go global.”
About PGT Healthcare
The Procter & Gamble Company and Teva Pharmaceutical Industries Ltd. formed the PGT Healthcare LLP joint venture in November 2011. The joint venture incorporated the two companies’ OTC businesses outside of North America and benefits from both companies’ core strengths and capabilities to facilitate rapid expansion into new countries and categories.
PGT Healthcare manufactures and markets more than 200 consumer healthcare brands in more than 70 countries around the world. Its portfolio includes Vicks, the world’s #1 selling cough & cold brand, Ratiopharm, the #1 OTC brand in Germany, and other leading brands like Vibovit, Ambrobene, Hylak, Novo-Passit, Gastal, and Metamucil.
PGT Healthcare has delivered strong growth across all regions over its first two years and is on track to triple its global sales to deliver more than $4 billion in annual global sales by 2020. The joint venture is headquartered in Geneva, Switzerland and is led by a management team comprised of experienced senior leaders from both companies, including CEO Briain de Buitleir from P&G, and COO Eli Shani from Teva.
About Swisse Wellness
Swisse founder, Kevin Ring, had a passion for natural medicine and started the company in Melbourne, Australia in the 1960s after a trip to Switzerland inspired him to develop his own range of herbal and vitamin supplements.
This passion drove the company innovation to develop gender-specific multivitamins, scientifically validated through clinical research. This led to the Swisse Men’s and Women’s Ultivite, now the number one selling multivitamin in Australia.
Swisse is a true Australian success story with revenues skyrocketing from FY08 to FY13, continual double-digit growth quarter on quarter, and sell through remains best in category.
Swisse spends a large amount of its revenue on educating people on the health benefits of complementary medicines and encouraging people to take control of their own health and well being.
To ensure that Swisse remains an industry leader, we are continually researching new ingredients to ensure that we incorporate the highest grade of standardized extracts – not the cheapest.
Swisse formulas have been developed around what’s best for well-being, regardless of the cost. Swisse starts with the research and development and then prices the product, rather than working to a commercial equation.
The balance of ingredients is also important, as high levels of one nutrient may cause depletion of another. For this reason, Swisse works closely with medical health care professionals to ensure the right combination of ingredients to deliver peak performance. In addition, we have our own Scientific Advisory Board that has members that are best in their fields.
Furthermore, Swisse products must pass more than 300 quality assurance tests during the three main stages of production – analysis of raw materials, manufacturing and finished product testing – to ensure our benchmark standards are maintained.
Swisse is an award-winning company that operates on a 4Ps philosophy: People, Principles, Passion and then Profits follow. We Celebrate Life Every Day, or CLED, and are part of an H & H journey, to make people Healthier and Happier. Swisse has created an unbelievable culture that attracts the best in their fields to our business. Team Members receive a cooked lunch every day, there are breakfast and snacks available, everyone gets a three-day weekend each month when there is not a public holiday, and there are free massages on Wednesdays from a visiting masseur!