Bubs Australia appoints Joe Coote as Chief Executive Officer

AUSTRALIA – Bubs Australia, a manufacturer of goat milk-based formula, has appointed Joe Coote as its second CEO in almost two years to head up the infant-formula maker.

Coote brings over 20 years of leadership experience in the FMCG sector, including dairy and infant nutrition. Most recently, he was CEO of Darigold, the fourth-largest dairy cooperative in the USA, overseeing more than US$2 billion in global sales, according to the filing.

Prior to that, he spent 12 years at Asia-Pacific dairy giant Fonterra, including president of the US division.

According to the company, Coote’s familiarity with the USA market is a major boon for the company as it navigates FDA regulatory processes and looks to strengthen retail and distribution partnerships once permanent access is announced.

His existing relationships and networks in supply chain, logistics, and distribution are seen as a major asset with Bubs focus on scaling clean-label goat and grass-fed dairy products across key channels.

Katrina Rathie, the Chair of Bubs Australia, expressed confidence in Joe Coote’s ability to lead the company’s domestic and global expansion.

She highlighted his strong background in operational excellence and large-scale international business transformations as key strengths.

According to Rathie, these qualities are expected to help grow Bubs’ clean-label goat and grass-fed dairy offerings in major export markets such as the USA, China, and other parts of Asia.

The incoming CEO said, “After 15 years abroad building global brands, it’s a privilege to return home and channel my experience into leading an Australian brand that’s redefining premium infant nutrition. I’m excited to lead the Bubs’ team to build a world-class infant-nutrition brand that delivers exceptional outcomes for our shareholders and families the world over.”

Q4 FY25

Bubs Australia Ltd. reported significant financial growth for the fiscal year 2025, with a 29% increase in net revenue to A$102.5 million (US$66.86 million) and a positive EBITDA of A$5.5 million (US$3.586 million) – A$6 million (US$3.912 million), marking a turnaround from the previous year’s loss.

The company also achieved positive operating cash flow and has substantial cash reserves. The US market led growth with a 52% increase in revenue, while China, Australia, and other international markets also showed strong performance.

In China, net revenue grew by 22%, reflecting “strong” cross-border e-commerce sales of goat and supreme formulas.

In Australia, net revenue rose by 8%, while the rest of the world markets, including Vietnam and Japan, saw a 44% increase.

Bubs’ submission to the US FDA for its New Infant Formula is expected to enhance its market presence further.

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