Chinese PE-backed consortium buys Australian vitamin supplier

The deal is consistent with significant Chinese interest in Australia’s nutritional supplements space. Primavera Capital and Shanghai Pharmaceuticals previously agreed to buy Australia-listed Vitaco for A$313 million ($238 million), while Swisse Wellness – a brand already popular in China through online sales – was snapped up by Hong Kong-listed Biostime International for A$1.4 billion. More recently, China’s By-Health Group bought Life-Space Group for A$690 million.

Founded in 1990, ANCB claims to be one of the country’s largest vitamins and supplements suppliers by market share, owning brands such as Healthy Care, Vitamore, VitAustralia, Leimei, and Mei Mei Organic. It also produces skin care and child care products. All these products are manufactured at a wholly-owned facility in suburban Sydney. The buyers will help the company penetrate the China and Southeast Asian markets, according to a statement.

Jianyin is participating in the deal through JIC Huawen Investment, a subsidiary that focuses on public and private investments in culture and media assets, consumer goods and services, and healthcare. Jianyin, which has around $85 billion in assets under management, is also active in the high-tech space with JAC Capital, completing several semiconductor-related investments.

The other backer is Tamar Alliance Partners Fund I, a private equity vehicle that targets consumer and healthcare opportunities with growth potential in Greater China and Southeast Asia. It was established last year – with initial capital of $80 million – by Hong Kong-based CITIC Pacific and Dah Chong Hong Holdings, a Hong Kong-listed conglomerate with interests in the automotive and consumer sectors.

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• Topics
• Australasia
• Consumer
• Buyouts
• Australia
• China
• Outbound investment