China supplement giant BY-HEALTH to Purchase Australian probiotic firm Life-Space Group for $690m

Life-Space Group, that was independently owned, is one of the largest probiotic firms in Australia. It operates the Evolution Health and Ultramix companies, and possesses Life-Space, the market-leading probiotic manufacturer sold in China and Australia.

In addition, the organization possesses or distributes Healthy Essentials, Elmore Oil and Corams — a brand portfolio in the organic wellness, joint and muscular pain relief, and infant care categories.

The A$690m trade is subject to customary shareholder and regulatory approvals.

Life-Space Group first entered the Chinese market through cross-border e-commerce at 2014 and has since seen earnings soar. It’s additionally the market-leading probiotic manufacturer in Chemist Warehouse, Australia’s largest pharmacy merchant.  

In November, we showed that the firm listed its highest China Singles’ Day​​ earnings, cementing its position as the bestselling probiotic manufacturer on the Tmall platform with more than   78,000 units sold —  more than twice that the brand’s record sales in 2016.

Group managing director of Life-Space Group Ben McHarg, that was a keynote speaker at our Probiota Asia summit​​ this past year, said :   “Life-Space Group has grown exponentially over the previous five decades, and we’ve reached a point at which, to continue our growth both domestically and  globally, we had to critique the privately-owned structure of our  enterprise.” ​

Management team retained

“It’s particularly satisfying to note that BY-HEALTH has supplied a continuing  commitment to our team and management group, headquartered in Melbourne,  that have been instrumental in reaching the growth and success we’ve  experienced, both in Australia and abroad.” ​

Formed in 1995 and listed on the Shenzhen stock exchange, BY-HEALTH is now China’s biggest domestic supplement manufacturer, and has the rights to permanently operate the Nature’s Bounty and Met-RX companies in the country.

It said the purchase of Life-Space Group represents a natural development towards the company getting a globally recognized brand owner.

BY-HEALTH CEO Zhicheng Lin said: “The purchase will help Life-Space Group integrate its products and manufacturer from  the probiotic market section and internet stations, providing strong support for BY-HEALTH to come up with new merchandise categories and stations. ​

“Life-Space Group  might also be able to make the most of BY-HEALTH’s marketing network and  stations to improve its accessibility in China and continue its strong growth momentum.” ​

This is the hottest high profile purchase of an Australian manufacturer with a Chinese company.

In 2015 / 2016, Biostime (now called Health & Happiness) purchased Swisse, although Vitaco was snapped by Shanghai Pharmaceutical Co a year after.

source http://revivelifesupplements.com/china-supplement-giant-by-health-to-purchase-australian-probiotic-firm-life-space-group-for-690m/