Thomson Geer has advised McPherson’s on its acquisition of Global Therapeutics from Australian vitamins manufacturer, Blackmores for $27 million.
McPherson’s, a leading health, wellness and beauty supplier has acquired Global Therapeutics, a market leader in Oriental and Western herbal and complimentary medicine formulations in Australia. The acquisition includes Global Therapeutics well known Fusion Health and Oriental Botanicals brands.
This acquisition is aligned with McPherson’s strategic priority of expanding its health, wellness and beauty portfolio.
Managing Director and CEO of McPherson’s, Laurence McAllister said “Building on McPherson’s 160-year rich history and our strategic focus on Health, Wellness and Beauty categories, has recently seen us establish a new Health and Wellness Division within McPherson’s”.
“Acquiring Global Therapeutics embeds a strong vitamins and dietary supplements business in that Division with recognised brands, a go to market capability and a strong product innovation pipeline”, Mr McAllister continued.
Thomson Geer also acted for McPherson’s on its successful placement underwritten by Moelis which raised $36.5 million.
The Global Therapeutics transaction is due to complete at the end of November 2020.
Commenting on the deal, Partner David Zwi said, “It was a pleasure to assist our long-term client McPherson’s on this strategic acquisition”.
The Thomson Geer team comprised of Partners David Zwi and Josh Simons, Senior Associates Nicola Moldrich and Nicole Bradshaw and Trade Marks Attorney Sharon Bandick.