Shanghai Pharma targets Aussie vitamin maker

The Chinese pharmaceutical firm offers $238 million to take Vitaco private, in the latest example of China’s huge interest in clean and green food products.
Vitaco owns Nutra Life, a leading New Zealand pharmacy and health food brand.
Vitaco owns Nutra Life, a leading New Zealand pharmacy and health food brand.

China's insatiable appetite for all things Australian has seen it snap up everything from natural resources and real estate to airlines, hospitals and dairy farms. Vitamins are now on the list, too.

Shanghai Pharmaceuticals announced on Thursday it was teaming up with Chinese private equity firm Primavera Capital to acquire Sydney-listed Vitaco Holdings for A$314 million $238 million, just 10 months after the vitamins and health supplement maker made its debut on the Australian Stock Exchange.

The pharmaceutical company, part-owned by the Shanghai city government, will own 60% of Vitaco while Primavera will own 40%.

The deal underscores China's huge appetite...

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