New Image acquires Nutrimetics from Tupperware Brands

Rhea-AI Summary

New Image Group has acquired Nutrimetics from Tupperware Brands Corporation (TUP) for an undisclosed amount. This acquisition aligns with New Image's health product portfolio and aims to expand Nutrimetics' reach globally through its independent consultants.

Graeme Clegg, founder of New Image Group, emphasizes Nutrimetics' 54-year legacy and income potential. The acquisition covers operations in Australia, New Zealand, and France, with plans for enhanced systems and marketing support to drive sales growth.

Positive

• Acquisition of Nutrimetics strengthens New Image Group's product lineup.
• Plans for enhanced business systems and marketing support indicate potential for increased sales.
• Nutrimetics has a 54-year established brand reputation, enhancing market credibility.

Negative

• None.

AUCKLAND, New Zealand--(BUSINESS WIRE)-- New Image Group has acquired skincare and cosmetics brand Nutrimetics from Tupperware Brands Corporation (NYSE: TUP) for an undisclosed sum.

Nutrimetics is a natural fit with New Image’s portfolio of health and nutrition products says Graeme Clegg, founder and chairman of the privately owned New Image Group.

“Nutrimetics is such an iconic brand with a proud 54-year history that has seen generations of women and men benefit from its incredible skincare and income opportunity. In the future, as part of New Image Group, it will be available to so many more people globally through our independent consultants.”

New Image Group has two subsidiaries – New Image International, which covers the global direct selling retail sales channel, and NIG Nutritionals, which takes care of all manufacturing and packaging in New Zealand for New Image International and its other customers serving domestic and international sales channels.

Rod Taylor, CEO of New Image International, says as Tupperware had decided to divest its beauty business units, he and others formerly associated with Nutrimetics saw it as an opportunity for New Image Group.

“After we had completed extensive due diligence, we were delighted our offer for the whole business was accepted,” Mr. Taylor says. “A recent Nutrimetics’ conference on Australia’s Gold Coast confirmed our enthusiasm is well founded.

“We have plans to bring in new business systems to Nutrimetics and to increase the sales and marketing support for our independent consultants and grow revenue.”

The acquisition includes Nutrimetics Australia, Nutrimetics International New Zealand, Nutrimetics Manufacturing and Nutrimetics France.

About Us: New Image Group is a leading New Zealand-based wellness and nutritional product manufacturer and exporter since 1984, with a globally renowned reputation for colostrum and infant formula. New Image International was recently independently ranked # 30 in the top 100 global direct selling companies. It has an integrated supply chain with dedicated farms and purpose-built spray plant and packing facilities in New Zealand. It has consultants in Taiwan, Philippines, Indonesia, Thailand, Malaysia, Vietnam, Singapore, and South Africa.

The Group includes two sister companies – New Image International and NIG Nutritionals – which separately cover the direct-to-consumer and traditional wholesale sales channels. New Image International abides by the World Federation of Direct Selling Associations’ Code of Ethics

View source version on businesswire.com: https://www.businesswire.com/news/home/20220704005419/en/

Rod Taylor

Chief Executive Officer

New Image International

Mob: +64 22 0255877

Email: rod.taylor@newimage.asia

https://newimagegroup.co.nz/

Source: New Image Group

FAQ

What is the significance of New Image Group acquiring Nutrimetics from Tupperware (TUP)?

The acquisition enhances New Image Group's portfolio in health and nutrition and expands the reach of the Nutrimetics brand.

What are New Image Group's plans for Nutrimetics post-acquisition?

New Image Group plans to implement new business systems and increase marketing support to boost sales and market presence.

Where does Nutrimetics operate after the acquisition by New Image Group?

The acquisition includes operations in Australia, New Zealand, and France.

How long has Nutrimetics been in operation before the acquisition by Tupperware (TUP)?

Nutrimetics has a history of 54 years as a skincare and cosmetics brand.