Greenwoods & Herbert Smith Freehills has advised leading Australian wellness brand Swisse Wellness on the sale of an 83% interest in Swiss Wellness to Hong Kong Stock Exchange-listed Biostime International Holdings Ltd.
The transaction is one of the largest Australian private M&A deals of the past 12 months, valuing Swisse Wellness at A$1.67 billion. Biostime, a leading premium infant formula, baby food and baby care producer in Asia, was selected as preferred bidder following a highly competitive process involving multiple bidders.
The Greenwoods team was led by Toby Eggleston with assistance from Senior Associate, Aaron Khoury. The team worked closely with the Herbert Smith Freehills corporate team, led by Raji Azzam.