Jatcorp

What Jatcorp does

Jatcorp Limited (ASX: JAT) is an Australian publicly listed manufacturer and exporter of dairy- and plant-based health products, operating as an Australia-Asia FMCG trade specialist. The company sells lactoferrin-enriched nutrition products under two core consumer brands, Moroka (premium dairy nutrition for active individuals and families) and Neurio (daily nutrition for children and families), plus supplementary lines such as Golden Years Formulated Milk Powder and VitaShield Protein Powder. All manufacturing is conducted in-house at the wholly-owned ANMA (Australian Natural Milk Association) facility in Derrimut, Victoria, which holds HACCP and SQF certifications and operates a pharmaceutical-grade automated quality management system.

The company's business model combines own-brand sales with private-label contract manufacturing. The most significant revenue driver is a multi-year private-label supply agreement with BTNature Pty Ltd worth up to approximately A$28 million over 12 months (approximately 3.2 million tin cans/jars of milk powder), disclosed to represent 70% of FY2022 revenue. Distribution combines distributor networks and retail partnerships across China, Vietnam, Malaysia, and Thailand, a Shanghai retail store, and DTC e-commerce through Moroka.com and Neurio.com.au. ANMA's GACC infant milk formula export license (renewed through December 31, 2025) is a regulatory anchor for China-market access.

Jatcorp serves families with children, health-conscious adults, and seniors seeking immune-support and functional nutrition products, with end markets split between Australian consumers and Asian (predominantly Chinese and Southeast Asian) export markets. The company relocated its corporate headquarters from Melbourne to Sydney in late 2022 under a new Board appointed September 2022, which has prioritized sales recovery, brand rebuilding, and resolution of legacy legal issues — including a December 2025 High Court of Australia decision affirming ownership of the Neurio trademark. Recent strategic moves include a December 2025 cooperation agreement with Xi'an Baiyue Goat Milk Group and 2026 participation in Global Victoria's Vietnam Accelerator Program, both pointing toward deeper Asia-Pacific expansion.

Name

Jatcorp

Legal name

JATCORP LIMITED

Website

https://jatcorp.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Jatcorp Limited (ASX: JAT) is an Australian manufacturer of lactoferrin-enriched dairy and plant-based health products under the Moroka and Neurio brands, with in-house production at ANMA and distribution across China and Southeast Asia, supplemented by private-label contract manufacturing.

Ownership category

akta.pro rank

Product category

Dairy Nutrition and Health Supplements

NAICS

Dairy Product Manufacturing (3115), Dairy Product (except Frozen) Manufacturing (31151)

SIC

Dairy Products (2020)

akta.pro primary industry

Toddler & Pediatric Nutritional Powder Manufacturing (Milk-Based) (AFAHAHAH)

akta.pro secondary industries

Specialized Dairy Nutrition Base Powder & Premix Manufacturing (Vitamin/Mineral/Functional Premixes) (AFAHAHAJ), High-Protein & Energy-Dense Pediatric Dairy Nutrition Manufacturing (AFAHAHAG)

Keywords

• Dairy health supplements
• Infant nutrition products
• Private label manufacturing
• Lactoferrin formulations
• Australia-Asia FMCG

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Dairy and supplement product sales: Sale of lactoferrin-enriched dairy nutrition products and supplements through own brands (Neurio, Moroka) and private label manufacturing. Revenue generated through distributors, online channels, retail stores, and direct B2B contracts.
2. Private label manufacturing: Manufacturing products under customer brands (e.g., BTNature). Contract with BTNature for up to approximately $28 million in product sales over 12 months, supplying around 3.2 million tin cans or jars of products.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Jatcorp manufactures and distributes lactoferrin-enriched dairy and plant-based health products and supplements, primarily through its two owned consumer brands—Moroka (premium nutrition for active individuals and families) and Neurio (children's daily nutrition)—and via large-scale private label manufacturing contracts such as the BTNature deal worth approximately A$28 million over 12 months. All production is carried out at the wholly-owned ANMA (Australian Natural Milk Association) facility in Derrimut, Melbourne, which holds HACCP, SQF, and GACC certifications for export to China.

Product overview

Jatcorp Limited is an Australian manufacturer of innovative dairy- and plant-based health products and supplements, operating as an Australia-Asia FMCG trade specialist. The company's product portfolio centers on two core consumer brands—Moroka (premium dairy nutrition) and Neurio (daily nutrition for children and families)—both featuring lactoferrin-enhanced formulations. Manufacturing is conducted through the wholly-owned ANMA (Australian Natural Milk Association) facility in Melbourne, which produces infant formula, milk powders, and nutritional supplements. The company also manufactures products under contract for brands like BTNature. Products are distributed across Australia, China, Southeast Asia (Vietnam, Malaysia, Thailand), and other export markets.

Differentiator

Problem solved

Functional benefit

Brands

• Neurio: Premium nutrition brand focused on lactoferrin-enriched products supporting children's development, immune health, and balanced well-being for adults
• Moroka
• ANMA (Australian Natural Milk Association)

Products and services

• Moroka Premium dairy nutrition brand enriched with lactoferrin and essential vitamins and minerals, designed to boost immunity, enhance energy, and support overall wellness for active individuals and families. Includes product line extensions such as Golden Years Formulated Milk Powder (targeting seniors) and VitaShield Protein Powder.
• Neurio Daily nutrition brand formulated to support children's development, strengthen immune health, and promote balanced well-being for adults, with lactoferrin as a key ingredient. Includes the Neurio Lactoferrin Formula Milk line for children, families, and individuals with weaker immunity.
• BTNature Private Label Milk Powder Products Contract-manufactured milk powder products supplied under BTNature's brand for sale in China, including full cream instant milk powder and sport skim instant milk powder. Produced at Jatcorp's ANMA facility under private label for BTNature, a leading milk brand company ranked No. 7 on Tmall.com's milk powder category in 2022.
• Lactoferrin-enriched Milk Powder Products Lactoferrin-enriched milk powder products launched to capitalize on growing consumer demand for immune-strengthening functional foods during the COVID-19 pandemic.
• Jinvigorate Platinum Supplementary food formula containing lactoferrin and immunoglobulins, developed by Jatcorp and studied by RMIT for potential immune function and respiratory infection protection benefits.
• Moroka Platinum Premium supplementary food formula containing lactoferrin and immunoglobulins, subject of RMIT molecular docking studies on effectiveness against SARS-CoV-2 variants.

Quantifiable outcome

• BTNature contract represents 70% of company revenue for year ended 30 June 2022
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core, strategic and minor.

• Xi'an Baiyue Goat Milk Group Co., Ltd.coreStrategic or Co-development Partner · 5 December 2025Comprehensive strategic cooperation agreement signed on December 5, 2025, witnessed by Xi'an Municipal People's Government delegation. Partnership focuses on resource integration, technological innovation, joint supply chain development, quality enhancement, and market synergy in the dairy sector. Both parties view each other as strategic partners worthy of long-term trust.
• BTNature Pty LtdcoreChannel Partner/ Reseller/ Distributor · 1 November 2022Major sales agreement to supply milk powder products under BTNature brand. Contract value up to approximately $28 million over 12 months, supplying around 3.2 million tin cans or jars of products. BTNature is a leading milk brand company selling predominantly into China, ranked No. 7 in milk powder category on Tmall.com in 2022.
• RMIT UniversitystrategicStrategic or Co-development Partner · 8 March 2022Research partnership for clinical trials on JAT's LF-Ig formulas (Jinvigorate Platinum and Moroka Platinum). RMIT conducted molecular docking studies on lactoferrin effectiveness against SARS-CoV-2 variants. Next stage involves human clinical trials to evaluate immune function and protection against respiratory infections.
• Oppenheimer Pty LtdminorStrategic or Co-development Partner · 1 October 2019Partnership established October 2019 to create V Meat brand for plant-based meat market in Asia. JAT and Oppenheimer partnered to capitalize on massive market potential in Asia for alternative protein products.
• Global VictoriastrategicGTM or Marketing PartnerParticipation in Global Victoria's Best of Victoria: Premium Australian Health, Beauty and Baby Brands Vietnam Accelerator Program. Program enables engagement with distributors, industry partners and consumers across Malaysia and Vietnam.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Synlait Milk: New Zealand dairy manufacturer specializing in infant formula and nutritional powders with significant China private-label and branded exposure. Comparable vertically integrated model combining proprietary formulation, manufacturing capacity, and Asia distribution through partner brands.
• a2 Milk Company: New Zealand/Australia-headquartered premium dairy nutrition company with strong China and Asia infant formula exposure. Most directly comparable to Jatcorp given shared Australia-Asia dairy nutrition model, premium positioning, and lactoferrin/immune-adjacent health propositions targeting Chinese consumers.
• Bellamy's Organic (Tasmania): Australian organic infant formula brand historically concentrated in China cross-border trade, now owned by China Mengniu. Directly comparable product category (premium Australian infant and toddler nutrition) and same Australia-to-China export go-to-market motion.

Broad incumbents

• Noumi (formerly Freedom Foods): Australian diversified dairy and plant-based nutrition company with UHT, milk powder and infant nutrition capabilities and Asia exports. Comparable Australian manufacturing platform targeting Asian nutrition markets at greater scale.
• Mengniu Dairy: One of China's largest dairy conglomerates with extensive infant formula (Yashily) and premium nutrition portfolios. Represents the scale competitive benchmark for any China-bound Australian dairy manufacturer, including Jatcorp.
• Fonterra Co-operative Group: New Zealand dairy giant with global ingredient and consumer brands (Anlene, Anmum) targeting Asian nutrition markets. Comparable B2B ingredient and infant formula manufacturing exposure and Asia distribution reach.
• Bega Cheese: Large Australian dairy and FMCG company with diversified branded and ingredient portfolios including infant formula via the Nature One Dairy business. Comparable Australian manufacturing base and export orientation but operates at much greater scale across multiple dairy categories.
• Ausnutria Dairy Corporation: Chinese-Australian infant formula group (including Nutrition Care Pharmaceuticals and hybrid infant formula brands). Comparable focus on premium and specialty infant formulas distributed through China mother-and-baby and cross-border channels.
• Health & Happiness International (H&H Group): Hong Kong-listed infant nutrition and probiotics company behind Biostime and Swisse Plus+. Comparable premium infant formula and health nutrition positioning with deep Asia-Pacific and China cross-border distribution, including Vietnam.

Regional players

• Viplus Dairy: Australian-owned dairy processor with China-focused OEM and branded infant formula operations. Directly comparable contract manufacturing and export model to China, including OEM milk powder contracts similar in structure to the BTNature agreement.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/JatcorpLimited
• LinkedInlinkedin.com/company/jatcorplimited

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Jatcorp