H&H Group

What H&H Group does

H&H Group (Health and Happiness International Holdings Limited; HKEX: 1112) is a global premium health and nutrition company founded in 1999 and headquartered in Hong Kong, with a second headquarters in London and in-market operations across 16 countries covering Australia and New Zealand, mainland China, North America, Europe, and Southeast Asia. The Group was originally listed on the Hong Kong Stock Exchange on December 17, 2010, as Biostime International Holdings Limited, and rebranded to H&H in 2017 after acquiring Swisse Wellness in 2015. It operates through three reportable business segments: Adult Nutrition and Care (ANC) led by Swisse, generating approximately USD 1 billion in annual sales and ranked #1 in the overall VHMS market in mainland China and as Australia's #1 VMS brand; Baby Nutrition and Care (BNC) led by Biostime, holding 17.1% market share in mainland China's super-premium IMF category in 2025; and Pet Nutrition and Care (PNC), led by Zesty Paws and Solid Gold, representing 15.0% of total Group revenue and growing 8.7% globally with double-digit growth in North America.

The technology backbone combines proprietary probiotic strain development (including canine-native strains co-developed with Native Microbials), the patent-pending Eternacell cellular complex combining ergothioneine, resveratrol, niacinamide, and zinc, and over 25 years of pediatric gut microbiome research managed through the BINC research institute, with R&D facilities in Cork (Ireland) and Geneva (Switzerland). The Group also markets the A-L-G Care collection (probiotic and prebiotic supplements for babies and children) and the Aurelia Cellular Vitality beauty supplement line in select markets. Mainland China accounts for 71.1% of total Group revenue, with cross-border e-commerce (CBEC) contributing more than 80% of mainland China ANC sales.

H&H Group's revenue model is unit-priced premium CPG across a multi-brand portfolio of seven retained brands, sold through omni-channel distribution spanning major grocery and pet retailers (Walmart, Petsmart, Petco, Target, Tractor Supply), e-commerce platforms (Amazon, Chewy, Tmall, JD.com, Douyin, Vipshop), specialty stores, and increasingly veterinary channels via epiq Animal Health and Durvet. The Group reported USD 2.0 billion in FY2025 revenue (RMB 14.4 billion), 10.3% YoY growth, an adjusted EBITDA margin of 14.3%, and adjusted net profit growth of 22.7%, with FY2026 Q1 revenue accelerating to +34.4% YoY. Leadership is structured around a rotating Group CEO model introduced in December 2023, with founder Luo Fei (羅飛) serving as Executive Director and Chairman of the Board.

Name

H&H Group

Legal name

Health and Happiness (H&H) UK Limited

Website

https://hh.global

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

H&H Group is a Hong Kong-listed global premium health and nutrition company operating a multi-brand portfolio across adult nutrition (Swisse), baby nutrition (Biostime), and pet nutrition (Zesty Paws, Solid Gold), with FY2025 revenue of USD 2 billion spanning 30+ countries.

Ownership category

akta.pro rank

Product category

Nutritional Supplements and Vitamins

akta.pro primary industry

Children’s Vitamins & Supplements (CRADAGAJ)

akta.pro secondary industries

Prenatal & Postnatal Maternal Nutrition (Lactation Support) (CRADAEAJ), Life-Stage & Breed/Size-Specific Formulas (CRADAFAG), Natural/Organic & Limited-Ingredient Diets (CRADAFAH), Pet Health & Wellness Retail (Supplements, OTC, Flea/Tick) (CRALAHAC)

Keywords

• Premium nutritional supplements
• Infant milk formula
• Paediatric probiotics
• Pet nutritional supplements
• Vitamin herbal mineral supplements

Headquarters

HQ city

Quarry Bay

HQ country

Hong Kong SAR China

HQ region

Asia

Offices15 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Marketing or Sales, Personnel, Technology or R&D, Operations, Infrastructure

Revenue model

1. Adult Nutrition and Care (ANC): Led by Swisse brand, generates approximately USD $1 billion in net sales. Includes vitamin, herbal and mineral supplement (VHMS) products. Contributed 48.4% of overall revenue excluding corporate daigou channel impact.
2. Baby Nutrition and Care (BNC): Led by Biostime brand including infant milk formula (IMF), paediatric probiotic supplements, and paediatric nutritional supplements. Achieved 20.0% growth in 2025 driven by IMF sales resurgence in mainland China.
3. Pet Nutrition and Care (PNC): Led by Zesty Paws and Solid Gold brands including pet supplements and pet food. Represents 15.0% of total Group revenue. Zesty Paws maintains strong double-digit growth in North America. High-margin pet supplements category performing particularly well.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels7 records

Core offering

H&H Group manufactures and sells premium nutrition and personal care products across three segments: Adult Nutrition and Care led by Swisse (vitamins, herbal and mineral supplements, anti-ageing, beauty-from-within), Baby Nutrition and Care led by Biostime (super-premium infant milk formula, paediatric probiotics and nutritional supplements), and Pet Nutrition and Care led by Zesty Paws and Solid Gold (pet supplements and premium pet food). The portfolio is sold in 30+ countries through retailers, e-commerce platforms, baby specialty stores, and veterinary channels.

Product overview

H&H Group is a global health and nutrition company operating as a multi-brand portfolio across three business segments: Adult Nutrition and Care (led by Swisse), Baby Nutrition and Care (led by Biostime, including Dodie and Good Gout sub-brands), and Pet Nutrition and Care (led by Zesty Paws and Solid Gold). The company also includes Aurelia Cellular Vitality for beauty supplements. The portfolio includes premium vitamin/herbal/mineral supplements (VHMS), infant formulas, paediatric probiotics and nutritional supplements, pet supplements, pet food, mother and baby care products, and beauty supplements. The product architecture is organized as a platform of independent brands that share H&H Group's global resources, industry experience, and governance standards while maintaining separate operations to respond to local market needs.

Differentiator

Problem solved

Functional benefit

Brands

• Swisse: Australia's leading natural health brand offering premium vitamins, nutritional supplements and skincare products
• Biostime
• Zesty Paws
• Solid Gold
• Dodie
• Good Goût
• Aurelia Cellular Vitality

Products and services

• Swisse Australian premium natural health brand offering vitamins, herbal and mineral supplements (VHMS), anti-ageing products, beauty supplements, and skincare. Sold globally through retail, pharmacy and e-commerce channels. Achieved USD $1 billion in revenue in 2025.
• Biostime Global infant and child nutrition brand offering premium infant milk formula (developed and produced in France), paediatric probiotics, prebiotics, and children's nutritional supplements. Backed by over 25 years of research and the BINC research institute.
• Zesty Paws One of America's most recognized pet supplement brands offering science-backed pet nutritional supplements (digestive, joint, calming, skin and coat, longevity) and a Professional veterinary-exclusive line launched in 2026.
• Solid Gold American premium holistic pet nutrition brand offering gut health and probiotic pet food and supplements for dogs and cats. Founded in 1974 and now positioned as H&H Group's premium pet food line.
• Dodie French specialist mother and baby care brand offering infant feeding and care products that accompany babies through every stage of growth. Leads the French mother and baby products market with distribution across Europe and Asia.
• Good Goût French organic baby food brand offering pesticide-free, non-GMO, chemical-additive-free organic food for infants and children, made with premium ingredients sourced directly from organic farms.
• Aurelia Cellular Vitality UK-origin beauty supplement brand offering science-backed beauty supplements with the proprietary patent-pending Eternacell complex combining ergothioneine, resveratrol, niacinamide, and zinc for hair, skin, and nail health.
• Biostime A-L-G Care™ Collection Collection of clinically studied probiotic-enriched powder supplements for babies and children, including Biostime Baby & Kids Dual Defense (immune and respiratory support) and Biostime Baby & Kids Skin Defense (skin health). Results shown in clinical trials after 12 weeks of use.
• Zesty Paws Professional line Veterinary-exclusive pet supplement line featuring the Native Canine Probiotic (canine-native probiotic strains sourced from healthy dogs) for digestive support and the Healthy Aging NAD+ Precursor for canine longevity. Developed in partnership with Native Microbials.
• Zesty Paws Calming Cat Diffuser Calming diffuser for cats utilising patent-pending nebulizing technology that mimics feline facial pheromones to reduce stress behaviours in cats. Zesty Paws' first entry into the feline well-being category.

Quantifiable outcome

• Swisse achieved USD $1 billion annual revenue milestone 10 years after acquisition
• +4 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• epiq Animal HealthcoreChannel Partner/ Reseller/ Distributor · 16 January 2026epiq Animal Health and Zesty Paws announced distribution and strategic partnership marking Zesty Paws' first expansion into the veterinary channel. Zesty Paws Professional line featuring canine-native probiotic strains will leverage epiq's distribution capabilities to reach veterinary professionals nationwide. Akash Bedi, CEO for North America, Middle East and India at H&H Group, stated that epiq will serve as a key partner in delivering clinically relevant solutions to the veterinary market.
• DurvetcoreChannel Partner/ Reseller/ Distributor · 14 January 2026Zesty Paws, an H&H Group brand, announced expansion into the veterinary channel with Zesty Paws Professional line developed in partnership with veterinary distributors epiq Animal Health and Durvet. Products include Native Canine Probiotic for digestive support and Healthy Aging NAD+ Precursor for longevity. Available starting January 2026, extending brand reach from retail and e-commerce into clinical settings.
• Native MicrobialscoreTechnology or Integration · 3 November 2025Native Microbials and Zesty Paws partnered to bring cutting edge microbial science to pet health. The partnership focuses on developing microbial science-based products for pet health, leveraging Native Microbials' expertise in microbiome science and Zesty Paws' market reach.
• PetcocoreChannel Partner/ Reseller/ Distributor · 13 October 2025Zesty Paws launched its first calming diffuser for cats in partnership with Petco, available nationwide in over 1,300 stores and online. The diffuser utilizes patent-pending nebulizing technology and mimics feline facial pheromones to reduce stress behaviors in cats, marking Zesty Paws' expansion into the feline well-being market.
• Isigny Sainte-MèrecoreStrategic or Co-development Partner · 1 January 2013Strategic partnership established in 2013 for infant formula development and production. Isigny Sainte-Mère is a French dairy cooperative providing high-quality milk for Biostime's super-premium infant formula products.
• Greater Good CharitiesminorGTM or Marketing PartnerH&H Foundation partnership with Greater Good Charities, a global nonprofit dedicated to health and wellness support for disaster-affected people, pets, and communities. Provided emergency relief for 2025 Southern California wildfires and Texas floods, delivering infant nutrition, pet food and essential supplies.
• One in FiveminorGTM or Marketing PartnerPartnership since 2019 supporting mental health research. Established specialized research fund for eating disorders through Monash University collaboration in 2023.
• China Red Cross FoundationminorGTM or Marketing PartnerPartnership since 2007 for the Biostime China Foundation for Mother and Child. Through this partnership, over 4,000 mothers and children have received medical assistance. The foundation operates 'Angel Journey' program providing congenital heart disease screening and assistance for children in remote areas.

Scale indicators16 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Nestlé Purina PetCare: Global leader in pet nutrition with premium and super-premium positioning, including veterinary lines. Directly comparable to Zesty Paws and Solid Gold in pet supplements and functional nutrition.
• Church & Dwight: Diversified consumer health and household products company with significant vitamins/supplements exposure (vitafusion, First Response, Zicam). Comparable to H&H as a multi-brand consumer health platform with supplements at its core.
• Reckitt (Mead Johnson): Reckitt's nutrition portfolio (including the former Mead Johnson) is a global leader in infant and child nutrition brands such as Enfamil. Directly comparable to Biostime in super-premium IMF and pediatric nutrition.
• Mars Petcare: Largest global pet food and pet care company with brands including Royal Canin, Pedigree, and Whiskas, and growing supplements offerings. Comparable to H&H's Pet Nutrition segment (Zesty Paws, Solid Gold) as a multi-brand pet nutrition competitor.
• Nestlé Health Science: Global nutrition business of Nestlé covering medical nutrition, VHMS-style consumer health, and active lifestyle nutrition. Comparable because it competes directly with H&H's Swisse in adult supplements and across multiple life-stage nutrition categories with similar science-backed branding.
• Danone Nutricia: Danone's specialized nutrition division offering early-life nutrition (infant formula), medical nutrition, and adult health products. Directly comparable to H&H's Biostime franchise in super-premium IMF and pediatric probiotics across global markets.

Direct peers

• USANA Health Sciences: Direct-selling and e-commerce nutritional supplements company selling vitamins and personal care products globally. Comparable to Swisse/Aurelia as a science-backed VHMS and beauty-from-within brand with multi-market presence.
• Nu Skin Enterprises: Global direct-selling company selling nutritional supplements and personal care/beauty products. Comparable to H&H's Swisse and Aurelia segments as a multi-region supplements and beauty-from-within peer.
• Herbalife: Global direct-selling nutrition company with vitamin, herbal, and sports nutrition products. Comparable as a multi-region VHMS/sports nutrition peer competing with Swisse, with similar premium consumer positioning and global footprint.
• Blackmores: Australia-listed natural health company and a direct competitor of Swisse Wellness across Australia and Asia-Pacific VHMS markets. Highly comparable in product mix (vitamins, herbal supplements) and regional positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hh-group

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about H&H Group