Aussie manufacturer Nature's Care attempts second sale of business after announcing 2018 IPO
According to The Australian Financial Review, UBS has formally alerted potential buyers via a marketing flyer, in order help attract interest to the trade sale.
Just a few days prior to the flyer's distribution, the company announced its intention to launch an $800m IPO early next year and be listed on the ASX.
Owned by the Wu family, Nature's Care is being positioned as a fast-growing company with earnings of close to $60m in the 2017 financial year.
UBS' flyer also mentions that after discounts and rebates, the manufacturer's net sales increased 23% annually over the last three years, from $118.3m in the 2015 financial year to $142.6m in 2016, and then to $178.5m this year.
Additionally, the company holds a 7% market share in Australia’s vitamin sector through its retail sales, making it the country's third largest brand after Swisse and Blackmores, which have a respective 20% and 19% market share.
The company's Healthy Care range of products are responsible for over 90% of its sales, with its skincare products accounting for the rest.
Furthermore, its Pro-Series range has become highly popular in China; in fact, around 50% of its sales come from outside Australia, mostly from China.
In January last year, JPMorgan was handling the sale of Nature's Care, whose potential buyers included private equity firms.
However, none of the interested parties could match the company's selling price of $1bn. It had been widely reported that there was an $800m bid on the table, but the firm has decided to stay in the private ownership of the Wu family.
Nature's Care will also see former Swisse CFO Tom Coleman take on the role of CEO on 12 December; it also recently hired Scott Shaw — who has worked with Blackmores — as its general sales manager.