Global law firm Norton Rose Fulbright has advised the Wu family, founders of Nature’s Care, on one of the largest private equity investments so far in 2018 to a Chinese consortium.
The consortium, made up of China Jianyin Investment Ltd. (JIC) and Tamar Alliance Partners Fund I, L.P. (Tamar), has entered into a binding agreement to acquire a majority share of Nature’s Care. The Wu family will continue to hold shares in this leading manufacturer and wholesaler of vitamins, supplements and skin care products.
The deal is expected to close later in the year, subject to regulatory approvals in China and Europe, and the Foreign Investment Review Board in Australia.
The cross-border Norton Rose Fulbright team led by Sydney corporate, M&A and private equity partner Richard G. Lewis advised on all aspects of the trade sale.
Nature’s Care manufactures in Sydney, Australia, and is one of the largest vitamins and supplements companies in Australia.
JIC is an integrated investment group which, at the end of 2017, managed over US$85 billion in assets.
Tamar is a private equity fund focused on investments in the consumer and healthcare sectors in China and Southeast Asia. The fund is owned by CITIC Pacific Limited and Dah Chong Kong Holdings Limited.
Richard G. Lewis commented:
"We have been tracking for many years the rising interest from Chinese business in Australian life sciences and healthcare industries, which are part of our global firm’s major areas of focus. The sale of Nature’s Care is illustrative of the appetite for Chinese investment in high quality Australian healthcare businesses. We’re pleased to have been able to bring together a high quality cross-border team to assist the Wu family in this significant transaction."
The team was led by Richard G. Lewis (head of private equity) with support from Matthew Nelson (special counsel); William Nicolson (associate) and lawyers Andrew Robertson and Hugo Gotterson; and with additional specialist support from members of our Sydney, London and Shanghai offices.