In a recent interview with Proactive, Wellnex Life Ltd (ASX:WNX) CEO George Karafotias outlined the company's recent growth, future plans and a potential London listing.
Karafotias talked to Proactive following Wellnex’s acquisition of leading Australian topical pain relief brand Pain Away. Karafotias says its addition to Wellnex Life’s product offering both complements and accelerates the potential growth of the company’s business operations.
Karafotias said: “It's been a busy 2023. All the brands that we've launched are doing very well in the market on major pharmacy and grocery retailers. I think one of the biggest achievements in 2023 is our relationship with Haleon PLC (LSE:HLN, NYSE:HLN) which was initially for the Australia and New Zealand market, but now it's gone global. So what you will see in 2024 is our products in the Panadol brand, going into the UK, Ireland, United Arab Emirates. So it's really exciting.”
Wellnex Life has also seen considerable success with its other brands. "Wakey Wakey is doing phenomenal - we have launched five products under that that brand" remarked Karafotias, stating that the brand's success in Coles, Woolworths and Chemist Warehouse has prompted the retailers to seek more products from the company. Wellnex’s brands like The Iron Company and Mr. Bright have also been making significant strides, both domestically and overseas.
One of the most significant developments for Wellnex is the acquisition of Pain Away, a brand that has been in the market for 25 years. Karafotias noted that the acquisition would transform the company's financial profile, contributing $16 million in revenue and $6 million in EBIT.