Bounce Protein Balls’ find new home with health giant after entering administration

Bounce Protein Balls collapsed into administration last month “due to heavy debt burden” - but a last-minute move will save the iconic brand.

The parent company of embattled health food brand Bounce – known for its range of protein balls – will have a new home, after it was bought out by another health company.

Last month, documents revealed that Natural High Co Pty Ltd – which operates Bounce Foods – entered administration “due to a heavy debt burden”.

But on August 2 the Bounce brand “and related IP” was sold to PharmaCare Laboratories Pty Ltd, according to 9news.com.au.

Natural High Co Pty Ltd was renowned for its range of Bounce Protein Balls.

“Shortly after commencement of the administration, an expressions of interest sale campaign was conducted to find a buyer for the company’s business and assets, which included the “Bounce” brand,” a spokesperson for auditing firm Grant Thornton told the publication.

“As administrators we are glad to have been able to support the brand during the voluntary administration process and to find a suitable buyer who appears motivated to see the brand continue,” the spokesperson said.

PharmaCare – which owns Nature’s Way, Sambucol, Bioglan, SUP Supplements – released a statement on the purchase, calling it an “exciting acquisition” that highlights the parent company’s “commitment to grow through local acquisition”.

PharmaCare CEO Glenn Cochran said in the statement: “We have a strong team of experts in the natural health sector who are already putting their collective minds behind the success of the brand to support Bounce customers to achieve a seamless transition of ownership.”

Mr Cochran said the first priority would be to review the Bounce range and focus on 11 core products, including the popular Bounce Protein Balls.

“The Bounce brand has a strong and loyal customer base, particularly with female shoppers across grocery, petrol and convenience,” Mr Cochran said.

“Our team is excited to continue supplying the beloved Bounce balls and more to Australians across the country who enjoy healthy snacking on-the-go.”

Bounce protein balls are among 11 “core products” to be the focus of PharmaCare’s review and acquisition.

On July 14, documents published by the Australian Securities and Investments Commission (ASIC) revealed that Natural High Co Pty Ltd entered administration.

John McInerney and Philip Campbell-Wilson were appointed as administrators.

Mr McInerney told 7News the company went into voluntary administration due to a debt “largely due to a failed attempt to successfully launch in the US in 2016, which cost the company (approximately) $6m”.

“This heavy debt burden inhibited the company’s ability to access necessary working capital to fund its Australian operations,” he said.

The company has operated in Australia since 2004, leaving it with a “strong presence in the market”, Mr McInerney said.

“An urgent expression of interest sale campaign has been commenced by the administrator to find a buyer to take over the business and continue supply to customers.

“The founders, Paula and Andy Hannagan, are willing to support the brand, under the control of a purchaser, to ensure that it remains available to customers and reaches its full potential.”

Despite the announcement Bounce’s online food store and social media are still up and running and its products are still available in supermarkets.

Originally published as Bounce Protein Balls’ find new home with health giant after entering administration