McPherson's Limited (ASX:MCP) entered into an agreement to acquire Global Therapeutics Pty Ltd from Blackmores Limited (ASX:BKL) for AUD 27.5 million on October 26, 2020. The consideration will be paid in cash and will be subject to customary working capital and completion adjustments. Acquisition is funded by a fully underwritten AUD 36.5 million institutional placement and non-underwritten share purchase plan to raise up to AUD 10 million. Global Therapeutics Pty Ltd reported sales of AUD 20 million and EBIT of AUD 3.7 million as of December 31, 2019. The transaction is subject to conditions in relation to the transfer of a minimum number of employees and material contracts and there being no material adverse change to the business and is subject to customary adjustments for working capital. The transaction is expected to complete on November 30, 2020. The transaction is expected to be mid single digit EPS accretive on a pro-forma FY21 basis before expected transaction costs and synergies. AUD 45.9 million Equity capital raised in October and November
2020 has funded Global Therapeutics acquisition and will fund future acquisitions and AUD 1.6 million working capital adjustment is done to the purchase consideration.

David Zwi, Josh Simons, Nicola Moldrich, Nicole Bradshaw and Sharon Bandick of Thomson Geer acted as legal advisor to McPherson's Limited in the transaction. Jeremy Davis, Ravi de Fonseka, Isabella Bosworth, Will Mason, Rebecca Proudman and Prashanth Kainthaje of Johnson Winter & Slattery acted as legal advisor to Blackmores in the transaction.

McPherson's Limited (ASX:MCP) completed the acquisition of Global Therapeutics Pty Ltd from Blackmores Limited (ASX:BKL) on November 30, 2020.