Aspen S26 takover tick
April 23, 2013
The Australian Competition
and Consumer Commission has
approved Aspen’s acquisition of the
Australian infant nutritional (IN)
business from Nestlé S.A., with the
move effective 28 April 2013.
The portfolio of products includes
brands such as S26 Gold®, S26®
and SMA®, which are currently
distributed in Australia and
Southern Africa by Pfizer.
In 2012, revenue from the
Australian and Southern African
infant nutrition businesses
amounted to AUD $83 million and
ZAR 180 million respectively.
The total cost of the acquisition
was US$215 million.
Under the agreement, Aspen will
have the exclusive right of use of
the Nestlé (previously Pfizer) S26®
and SMA® infant nutrition licensed
products and the right to co-brand
the range for 10 years.
It plans to transition these
products to Aspen branded
products in this time.
Nestlé will be excluded from
commercialising the licensed
products for a further 10 years
in a “10 year black out period”,
effectively providing Aspen with
a 20 year period to establish
equivalent Aspen branded IN
products.
Transitional service arrangements
by Nestlé and Pfizer include the
manufacture and supply of licensed
products under a non-exclusive
arrangement.
These arrangements will
enable Aspen to transition the
manufacture of IN products to its
own facilities within three years.
The company says the transaction
presents a good commercial and
strategic fit for Aspen, given its
heritage with these brands, and
supports its strong presence in
the Australian grocery and OTC
segments.
“The transaction will provide
Aspen with an enhanced platform
from which to extend the global
footprint of its IN business in the medium term,” the company said.
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