Sanofi-aventis has entered into a binding agreement with Primary Health Care Limited (Primary) to acquire Symbion CP Holdings Pty Limited (Symbion Consumer) in Australia.
Symbion Consumer manufactures, markets and distributes nutraceuticals (vitamins & mineral supplements) and over the counter brands throughout Australia and New Zealand. Symbion Consumer has a strong portfolio of premium brands including Natures Own, Cenovis, Bio-organics, Golden Glow and Microgenics.
Symbion Consumer sales amounted to around A$ 190 million in 2007. Symbion Consumer is the market leader, with an estimated 21per cent market share. The transaction is valued at A$ 560 million. Its completion, subject to certain conditions, is expected to occur on 31 August 2008. This acquisition will represent for sanofi-aventis a platform to launch a nutraceutical offering throughout the Asia/Pacific region", he concluded.