As announced to the ASX today, the transaction positions Probiotec as one of Australia's leading pharmaceutical contract manufacturer and contract packing services providers.
Corporate partner Jeremy Lanzer led the ABL team advising on the acquisition for this long-standing client, with support on M&A aspects of the deal from lawyers Lucy Burke and Nicole Phillips. Employment advice was provided by our head of Workplace Advisory, partner Bridget Little and her team. Other teams involved were Property & Development, led by partner Gia Cari, and Banking & Finance, led by partner Genevieve Sexton.
Jeremy Lanzer commented on our involvement: “Our cross-disciplinary team seamlessly pulled together to advise on this acquisition, which will provide a new platform for Probiotec’s future growth in the contract packing space. We are really proud to support our long-standing client on their ongoing success.”
“Our cross-disciplinary team seamlessly pulled together to advise on this acquisition, which will provide a new platform for Probiotec’s future growth in the contract packing space. We are really proud to support our long-standing client on their ongoing success.”
In today’s ASX announcement, Wes Stringer, CEO of Probiotec, commented: “The acquisition of Multipack-LJM is the next step in Probiotec’s evolution. This acquisition will give us significant critical mass and access to an amazing spread of global clients for which to offer our wide range of manufacturing and packaging services. This is a material transaction for the group and it is very exciting to bring the Multipack-LJM business under the Probiotec umbrella. I sincerely look forward to welcoming the Multipack-LJM team to Probiotec.”
Multipack-LJM is one of Australia’s leading contract packers, providing value-added packing services for some of the world’s leading pharmaceutical, consumer healthcare, cosmetics and food and beverage companies. Last financial year, Multipack-LJM generated sales revenue of $70 million and has achieved strong and sustained growth over this calendar year, despite the COVID-19 pandemic.
ABL has advised Probiotec on a number of recent deals, including the sale of its Celebrity Slim brand and its acquisition of leading pharmaceutical business Australian Blister Sealing (ABS).
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.