Nature’s Care finally clinches sale to China

Chinese state-owned enterprises’ acquisition of Australia’s third-largest vitamins firm by sales reflects the country’s hunger for food safety – but not at any price.

Nature’s Care finally clinches sale to China

Chinese conglomerate Citic Ltd is clubbing together with a unit of sovereign wealth fund China Investment Corporation and others to buy Australia Nature’s Care Biotech for less than A$800 million $620 million, according to people familiar with the deal.

As part of the agreed deal, the Wu family, which founded Nature’s Care in 1990, plans to keep over 10% of the Sydney-headquartered business, the two people said. 

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