Clarendon Lawyers has advised the founders and shareholders of Bio-E Australia on the sale of its natural health, food and beverage manufacturing business to vitamin and supplement manufacturer Star Combo Pharma.
The Clarendons team was led by director Rob Feiner, who was assisted by associate Dean Beaumont and lawyer Ayesha Singh.
Melbourne-based Bio-E specialises in the manufacturing of natural products made from responsibly sourced materials. Bio-E’s product range includes pure Australian honey, fermented drinks, and natural honey skincare. Meanwhile, Star Combo is an ASX-listed company that manufactures and distributes a range of vitamins, dietary supplements, and skincare products in both domestic and international markets.
The transaction involves the sale of 100% of the shares in Bio-E for an aggregate purchase price of $60m, which will be satisfied by a combination of cash and the issue of scrip in Star Combo to the Bio-E shareholders.
“It has been a pleasure to assist the Bio-E shareholders on the sale of the Bio-E business to Star Combo,” said Feiner. “This transaction is a great result for the Bio-E team and a testament to their hard work to build such a strong business in a relatively short period of time. We look forward to seeing the business continue to thrive under Star Combo.”
The transaction is expected to complete in August, subject to certain conditions.