Reports: Chinese formula company snaps up Swisse in A$1.5bn deal

By RJ Whitehead

- Last updated on GMT

Reports: Chinese formula company snaps up Swisse in A$1.5bn deal

Related tags Medicine Complementary medicines australia

Australian vitamins and supplements manufacturer Swisse has reportedly been bought by Hong Kong-listed infant formula maker Biostime.

The deal was worth more than A$1.5bn (US$1.1bn) and follows a bidding war with other Chinese companies, according to media reports.

China has become central to Australian wellness business expansion, with complementary medicine exports to the Far East having grown by 36% over the last two years.

In reality, this official figure will be significantly larger as it does not factor in smaller exporters. The credibility of Australian producers, which operate under one of the world’s strictest regulatory frameworks, is largely behind this surge.

This demand for Australian complementary medicines by Asian consumers can be attributed to several factors, including our industry’s reputation for quality products​,” said Carl Gibson of Complementary Medicines Australia recently.

It is coupled with the demographic changes in the Asian region, such as ageing populations, and a rapidly developing middle class that embraces complementary medicines​.” 

Last month Australian vitamin producer Blackmores, one of Swisse’s key rivals, became the nation’s latest A$100 stock after seeing significant growth its online sales in Asia. Just a year ago, its stock was worth just A$28, reflecting this surge in demand.

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