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.

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. 

The buying consortium comprises CIC-managed China Jianyin Investment and JIC Huawen Investment, together with Tamar Alliance Partners, which is run by Citic Ltd and Hong Kong's Dah Chong Hong Holdings, according to...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222