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Hong Kong-listed group acquires Aus pharmaceutical company

Hong Kong-listed group acquires Aus pharmaceutical company

pharmaceutical

Two firms have advised on the acquisition of an Australian pharmaceutical company by a large, dairy production company listed on the Hong Kong stock exchange.

Firms: Ashurst (Ausnutria Dairy Corporation); Madgwicks Lawyers (Nutrition Care).

Deal: Ausnutria Dairy Corporation (Ausnutria) has acquired Nutrition Care.

Value: Approximately $31.6 million

Area: M&A

Key players: The Ashurst team was led by corporate partner Kylie Lane, with assistance from corporate partner John Sartori, IP partner Kellech Smith, employment partner Jane Harvey, tax partners Ian Kellock and Geoff Mann, and competition partner Alice Muhlebach.

Deal significance: Ausnutria is a Hong King-listed dairy company that is involved in the production and distribution of dairy products.

This latest acquisition will see Ausnutria acquire the business and assets of Nutrition Care.

Nutrition Care was founded by nutrition specialist Ian Ernest Brighthope. It manufactures premium grade nutritional and herbal supplements in Australia.

Following the sale, Mr Brighthope will retain a 25 per cent interest in the new holding company of the business and will continue to provide consultancy services.

“We are delighted to have assisted Ausnutria on this important acquisition, its first in nutrition products in Australia,” Ashurst corporate partner Kylie Lane said.

“We look forward to working with Ausnutria to close the transaction and assist to grow the business.”

 

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