Auckland, October 10, 2016: NIG Nutritionals has been named as finalist in the “Best Large Business” category in the New Zealand International Business Awards 2016.
The awards recognise “innovative businesses that are among the most successful New Zealand businesses operating internationally”. The best large business category recognizes businesses that show a net return to the New Zealand economy with total annual revenue of more than $50 million.
The awards are organized by New Zealand Trade and Enterprise (NZTE), whose chief executive Peter Chrisp says celebrating the achievements of the countries’ top exporters helps build the country’s profile.
NIG Nutritionals’ general manager Guy Wills says while New Image Group as a whole is a mature manufacturer and marketer and it has won NZ exporter awards in the past, NIG Nutritionals has only recently been spun out as a subsidiary to do new things.
NIG Nutritionals has had to be agile and determined enough to get on global trend, despite tough market conditions especially amongst heavy weight competition. However, revenues from NIGN’s own brands, led by Baby Steps™ goat milk products and Symbiotics™, have grown by nearly 500% during the past three years.
While individual country revenues are commercially sensitive, Wills says NIGN has seen huge growth in infant formula and nutritional product sales in Mainland China, despite all the challenges, and South East Asia are growing strongly.
“The infant formula side of the business, which includes both its own brands and contract manufacturing, has grown more than two and a half times and its nutritionals and powders business by five in the past three years,” Wills says.
“Baby Steps™ goat milk products are finding a ready market internationally with consumers looking for an alternative to cow milk based products and who are either familiar with consuming goat products, or those looking for the digestive and health qualities of goat milk.”
NIG Nutritionals has developed an integrated supply chain in New Zealand for goat milk. It has dedicated farms and is also about to commission a new, purpose built ,high tech spray dry plant at Paerata, near Pukekohe.
NIG Nutritionals will learn if it has won an award at a black tie ceremony in Auckland on November 24. It is up against finalist companies from the defence, security, pharmaceutical, health IT the gold and bullion sectors as well as chicken and cereal and nut food producers.
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