Ashurst has advised Ausnutria Dairy Corporation Ltd (Ausnutria) on the acquisition of Nutrition Care Pharmaceuticals Pty Ltd (Nutrition Care), which has a combined value of approximately A$31.6 million.

The negotiated acquisition including Nutrition Care's business and assets was signed on the 24th of August and is expected to complete in September 2016. The acquisition is highly complementary to Ausnutria's existing portfolio as the nutrition products market is a potential high growth segment, given the increasing health awareness globally and particularly in China. 

Nutrition Care was founded by Professor Brighthope, a leading nutrition expert, and manufactures premium grade nutritional and herbal supplements in Australia. Following the sale, Professor Brighthope will retain a 25% interest in the new holding company of the business and will continue to provide consultancy services.

Lead partner in the deal Kylie Lane (Corporate) comments: "We are delighted to have assisted Ausnutria on this important acquisition, its first in nutrition products in Australia. We look forward to working with Ausnutria to close the transaction and assist to grow the business."

Kylie was assisted by partner John Sartori, senior associates Megan Trethowan and Winnie Sinn, lawyer Carrie Hui with graduates Ryan Kabat and Anthony Pitruzzello (Corporate); partner Kellech Smith and senior associate Kane Wishart (Intellectual Property); senior associate Philip Hopley (Insurance); partner Alice Muhlebach (Competition); partner Jane Harvey and lawyer Ffion Whaley (Employment); senior associate Gaby Stach (Real Estate); partners Ian Kellock and Geoff Mann with senior associates Bronwyn Kirkwood and Jadie Teoh (Tax).