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Aspen Pharmacare Holdings Ltd Announces Acquisition Of Infant Nutritional Businesses From Nestle S.A

Thursday, 18 Apr 2013 02:00am EDT 

Aspen Pharmacare Holdings Ltd announced that it has concluded agreements with Nestle S.A. in respect of the acquisition of certain rights to intellectual property licenses, net assets and shares in the Infant Nutritional (IN) businesses presently conducted by Pfizer which distribute a portfolio of IN products in Australia and certain Southern African territories (South Africa, Botswana, Namibia, Lesotho, Swaziland and Zambia) (the Southern African IN business) for a total purchase consideration of USD215 million. The IN portfolio covers all age stages (infants, toddlers and early childhood) and consists of premium, specialty and standard ranges supported by strong umbrella brands including S26 Gold, S26 and SMA. The revenue for the Australian and Southern African IN businesses amounted to AUD83 million and ZAR180 million respectively in 2012. The Australian competition authorities have approved Aspen’s acquisition of the Australian IN business and the transaction will be effective in Australia from April 28, 2013.