Thomsons acts for CK Life Sciences on acquisition of salt business

3 December 2012

News

Thomsons Lawyers has acted for CK Life Sciences Int’l., (Holdings) Inc. on the acquisition of Cheetham Salt Limited in Australia for a consideration of AU$150 million, approximately HK$1.2 billion.

Partner, David Zwi led the M&A team on this assignment, which comprised Special Counsel, Michael George; Senior Associates, Marc Wyld and Jason Marcus; Associate, Helen Jin; and Lawyers, Alexandra Adams and Sally Pritchard-Davies. The Property team advising on this transaction comprised Partner, Fraser Bell and Lawyer, Matthew Curran.

Chief Executive Partner, Adrian Tembel, said a national team came together seamlessly to work on this transaction, ensuring the client had access to the best talent within the firm.

“We have an intelligent, ethical, well trained M&A team. Their commercial responsiveness and problem solving capabilities help ensure optimal outcomes for our clients,” he said.

The acquisition of Cheetham represents CK Life Sciences’ third investment in Australia this year, following the purchase of Peaty Trading Group in January, and three vineyards in Western Australia’s Margaret River region in October.

CK Life Sciences is currently the largest supplier of turf management products and services in Australia, as well as the second largest supplier in the country’s home garden products industry and pest management industry. It is one of the largest manufacturers of health supplements and complementary medicines in Australia, and is the second largest vineyard owner in the country. With the addition of Cheetham, the company will also become the largest producer of domestic salt in Australia.

The acquisition is subject to New Zealand Overseas Investment Office approval as Cheetham has business assets in New Zealand. The transaction is expected to be completed by the end of February 2013.