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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."
