As previously reported in The Australian Financial Review, Global Brands Australia, which is chaired by former Trade and Investment Minister Andrew Robb, recently raised capital to fund the acquisition with a view to listing on the ASX later in the year.
The sale, which is expected to complete in September 2019, is the culmination of a strategic divestment process to unlock shareholder value and focus on Probiotec’s core manufacturing business.
Other recent Probiotec transactions in which Arnold Bloch Leibler has advised include the sale of the Impromy brand to Blackmores, the sale to iNova Pharmaceuticals of the Gold Cross, David Craig and Skin Basics brands, the sale and lease back of Probiotec’s Laverton manufacturing facility, and the acquisition of leading pharmaceutical business Australian Blister Sealing.
Corporate and M&A Partner Jeremy Lanzer led the team advising Probiotec, with support from Lawyer Anna Sandiford.
Jeremy commented on the transaction: “Arnold Bloch Leibler is proud to continue partnering with Probiotec as it delivers on its stated promise to unlock shareholder value. Congratulations to Probiotec’s management team on another successful transaction.”
About Arnold Bloch Leibler
Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, family businesses, high-net-worth individuals and international corporations. The firm also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.