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.