A Chinese consortium is planning to buy a majority stake in Australian vitamin company Nature`s Care. (Web Photo)
A Chinese consortium is planning to buy a majority stake in Australian vitamin company Nature`s Care, Reuters reported. The two sides have reached a binding agreement on the acquisition, but the deal is still subject to review and approval by the relevant regulators.
It is reported that the Chinese consortium consists of China Construction Bank Investment Corporation (JIC,) and its wholly-owned subsidiary, as well as private equity firm (Tamar Alliance) Capital. Alliance Capital is a joint venture between Citic Pacific and Dachanghang Group (Dah Chong Hong).
On Wednesday, the buyer issued a joint statement. Nature`s Care was valued at about A $800 million by the buyer, according to a source. Sources said the founder and current owner of, Nature`s Care, the Wu family in Sydney, would retain a stake.
The source did not disclose the financial details of the transaction for the time being.
Headquartered in Sydney, Nature`s Care is Australia`s third-largest vitamin company that also produces dietary supplements and skin care products. It owns "Healthy Care", "Nature`s Care Pro", "Royal", "Vitamore", "VitAustralia". "Leimei" and "Mei Organic" and many other well-known brands, market share has been at the forefront of the Australian health products industry.
