Blackmores (ASX:BKL) to sell Global Therapeutics for $27 million

Company News

by Rachael Jones

Blackmores (ASX:BKL) is set to divest Global Therapeutics to McPherson’s.

In the transaction worth $27 million at the enterprise value, Global Therapeutics includes the Fusion Health and Oriental Botanicals brands.

Global Therapeutics was acquired by Blackmores Group in May 2016.

The product range draws upon traditional Chinese medicine in combination with contemporary herbal treatments.

McPherson’s is a leading supplier of Health, Wellness and Beauty products in Australasia and increasingly China, with operations in Australia, New Zealand and Asia.

McPherson’s portfolio of owned market-leading brands, include Manicare, Lady Jayne, Dr. LeWinn’s and Swisspers.

Shares in Blackmores (ASX:BKL) are trading 5.24 per cent higher at $66.66.
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.