Buisness Name Change to Wellnex Life Limited From Wattle Health Australia

About the Company

Development, sourcing, and marketing of dairy, health and wellness food items created in Australia are the main activities of Wattle Health Australia Limited, an Australian business. The company specializes in infant formula and dried dairy products and works in the fast-moving consumer goods (FMCG) sector.

The corporation has monetized and sells a variety of goods, including Full Cream dried milk powder, Three Domestic Infant Formulas for the Australian domestic market (Stage One, Infants from Birth to Six Months; Stage Two, Infants from Six to Twelve Months; and Stage Three, Infants from Twelve Months Plus), and Three Export Infant Formulas for the export markets (Stage one, infants from birth to six months; Stage two, infants from 6 to 12 months, and Stage three, infants from 12 months plus). 

The business focuses on providing a variety of goods, including a line of nutritional diaries, a line of health and therapeutic products, and a line of organic baby food.

As the company gets ready for its return to the ASX, Mr Karafotias commended shareholders for their patience.

Business Name change to Wellnex Life Limited from  Wattle Health Australia Ltd

(ASX: WHA) (the Company) is happy to announce that it has changed its name to “Wellnex Life Limited” as a result of shareholder approval at the annual general meeting held on Friday, May 21, 2021. The Company further declares that its ASX issuer code will change from “WHA” to “WNX,” with the transition taking place when the ongoing entitlement offer is finished. In due course, the Company will give a new market update on the date of the name change and issuer code change. The Company’s legal position, along with any of its assets or obligations, will not be changed by the change in name alone.

Investor Information

Join Executive Director George Karafotias and Zack Bozinovski for a live, interactive investor briefing where they will provide an update on the company’s recent business successes and plans for relisting on the ASX. 

Here, at https://wellnexlife.investorportal.com.au/live-investor-briefing, you may reserve your spot. Please register your information on our investor center at  https://wellnexlife.investorportal.com.au/ register to get corporate news and updates. The Company’s board of directors has approved the release of this announcement on the ASX.

Why the Brand-New Look

The original goal of Wattle Health Australia was to dominate the Chinese market for organic, nutritional dairy products, says Peter Biantes. The company developed a variety of nutritious dairy products and a supply network that gives it complete control over the production process.

The business has worked directly through the daigou channel to increase its market share in the vast and burgeoning Chinese market. Yet when COVID-19 struck, the enterprise ran into difficulties, which ultimately led to a deterioration in Australia’s trading relations with China.

Wattle encountered difficulties during this time trying to raise money to pursue prospective large business transactions, as was to be expected. The business, however, used this chance to revamp itself. By July 2020, it had started a strategic evaluation of not just its company but also the entire market and how Covid could change the behaviour of its clients and rivals.

The review’s findings demonstrated the necessity for diversification away from producing a constrained variety of goods for a particular market. It also demonstrated that the business needed to enter the health and wellness sector, where it had already established contacts and networks and was aware of its rivals.

The fact that it was a market where customers would be more prepared to spend in the post-Covid era was even more significant. The business only had to find a means to broaden its own offering because it already had the know-how to take advantage of it.

BSA Purchase

A thorough due diligence procedure led to the BSA acquisition after the business sold off several important assets. BSA oversees more than 15 brands through a vast network of product alliances and distribution agreements.

Zack Bozinovski, a businessman with a successful ten-year career in the health and wellness industry, led the BSA team. Bozinovski was a significant stakeholder and cofounder of VOST Vitamins, a German-made electrolyte product that was recently acquired by US conglomerate Procter & Gamble, in addition to BSA.

As the creator of the brand, Bozinovski has established reliable distribution relationships with several significant domestic players, including the top national drugstore Chemist Warehouse.

Since founding BSA in 2010, he has single-handedly transformed it into a titan of the health and wellness sector. Wellnex claims that BSA’s product line complements its own and that previous partnerships with the company have a successful track record.

For instance, BSA had assisted Wattle in gaining access to more than 1,000 pharmacies for its Uganics and Little Innoscents, including renowned drugstore chains API and Chemist Warehouse. With the help of this acquisition, Wellnex Life hopes to establish itself as a top provider of health and wellness brands with a broad portfolio and generate annualized revenues of over $20 million.

Bottom line

Wattle Health Australia, a former nutritious dairy company, is one step closer to relisting on the ASX after shareholders overwhelmingly supported a plan to rebrand as Wellness Life.

At the company’s annual general meeting on Friday, May 21, more than 95% of shareholders voted in favour of expanding into the health and wellness sector by purchasing Brand Solutions Australia (BSA) and branding under the new name.

With a target date of Wednesday, June 16, 2021, Wattle Health Australia is currently negotiating with the ASX for permission to re-quote its securities with a name change and new stock ticker, says Peter Biantes.