Probiotec Limited completed the acquisition of L.J.M. Marketing Services Pty Ltd and Multipack-LJM Pty Ltd from Adam Rawson and Jean-Pascal, Detje Marcel.
January 31, 2020
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Probiotec Limited (ASX:PBP) agreed to acquire L.J.M. Marketing Services Pty Ltd and Multipack-LJM Pty Ltd from Adam Rawson and Jean-Pascal, Detje Marcel for AUD 52.5 million on November 10, 2020. Under the terms, AUD 32.4 million is paid in cash at completion, AUD 7 million payable probiotic scrip at completion and AUD 13.1 million structured as deferred consideration subject to achieving EBITDA performance which is payable in two installments between 12 to 24 months following completion of the transactions. Probiotec has the option to pay the deferred consideration in cash or Probiotec shares with stock issued under the scrip election done so at a fixed price. The deferred consideration payable is distributed among Adam Rawson at 50%, HDJP Pty Ltd ACN 16 312 264 at 25% and L.J.M Nominees Pty Ltd ACN 096970 697at 25% of Multipack-LJM Pty Ltd and Jean-Pascal and Detje Marcel at 11.3547%, HDJP Pty Ltd ACN116 312 264 at 29.8217% and L.J.M Nominees Pty Ltd CAN 096970 697 at 58.8235% of L.J.M. Marketing Services Pty Ltd. The consideration payable to the extent of AUD 34.9 million is funded by debt from Commonwealth bank of Australia. The acquisition is expected to complete by the end of December 2020. As of December 31, 2020, Probiotec Limited completed the acquisition of Multipack-LJM Pty Ltd. Salter Brothers advised Probiotec Limited, PricewaterhouseCoopers Australia acted as accountant and Arnold Bloch Leibler acted as legal advisor for Probiotec Limited (ASX:PBP). Jeremy Lanzer led the Arnold Bloch Leibler team with support of Lucy Burke, Nicole Phillips, Bridget Little, Gia Cari, Genevieve Sexton.
Probiotec Limited (ASX:PBP) completed the acquisition of L.J.M. Marketing Services Pty Ltd and Multipack-LJM Pty Ltd from Adam Rawson and Jean-Pascal, Detje Marcel on January 1, 2021.
Probiotec Limited is an Australia-based manufacturer, packer and distributor of a range of prescription and over the counter (OTC) pharmaceuticals, complementary medicines, consumer health products, and fast-moving consumer goods (FMCG). The Company owns approximately six manufacturing facilities in Australia and distributes its products both domestically and internationally. It offers full-service contract manufacturing and packing. The Company manufactures products on behalf of a range of clients, including international pharmaceutical companies. The Company services blue-chip manufacturers, multinational FMCG companies, local manufacturers and brand custodians. All types of FMCG products are packed or handled, such as canned food, alcohol, tea and coffee, dairy and frozen foods, sauces and condiments, and bottled water. Its subsidiaries include Probiotec Pharmaceuticals Pty Ltd, Probiotec Pharma Pty Ltd, Multipack-LJM Pty Ltd, LJM (NSW) Pty Ltd and HH Packaging Pty Ltd.
Probiotec Limited completed the acquisition of L.J.M. Marketing Services Pty Ltd and Multipack-LJM Pty Ltd from Adam Rawson and Jean-Pascal, Detje Marcel.