Market Herald logo


Be the first with the news that moves the market
  • Probiotec has entered an agreement to sell the Celebrity Slim brand to Global Brands Australia
  • Global Brands Australia will pay $6.75 million in cash to Probiotec. A $1.5 million deposit has already been paid
  • Probiotec wants to focus on its core business and the recent acquisition of Australian Blister Sealing

Probiotec has entered into an agreement with Global Brands Australia to sell the Celebrity Slim brand, including all intellectual property and business assets.

Under the sale agreement, Global Brands Australia will pay $6.75 million in cash to Probiotec to buy Celebrity Slim. So far, a $1.5 million cash deposit has been paid.

Global Brands Australia is a beauty business which helps beauty brands and retailers search for innovative concepts and new, inspirational products.

Probiotec is an Australian manufacturer, packer and distributor of prescription and over-the-counter pharmaceuticals, medicines and health products. It owns three manufacturing facilities across Australia and distributes products both domestically and internationally.

The company has a diverse portfolio of brands. These include, which is an online store that delivers products such as Redbak Protein, Black Widow Nutrition, The Biggest Loser, David Craig Skin Care, Milton Baby Care, Skin Basics, and many more.

And of course, up until recently, the Celebrity Slim brand, which is a popular health and weight loss program that promotes shakes and other meal replacements.

Probiotec Managing Director Wes Stringer claims the company wants to focus on its core business and the recent acquisition of Australian Blister Sealing (ABS).

“The sale of Celebrity Slim successfully concludes the company’s divestment of its branded product portfolio. This transaction allows Probiotec to focus solely on our core manufacturing business, including our recent acquisition of ABS in July,” Wes said.

Probiotec bought ABS just last month for a base amount of $23 million and an additional cash consideration of $5 million.

Wes stated the acquisition was a strategic move by the company to increase its manufacturing capabilities, scale and reach within the pharmaceutical industry.

The sale of Celebrity Slim is expected to take place on September 30 2019.

PBP by the numbers
More From The Market Herald

" Breville Group (ASX:BRG) immune from coronavirus outbreak

Australian kitchenware group, Breville's (ASX:BRG) share price is at an all-time high after it released its…

" Breville (ASX:BRG) buoyed by the completion of $94M placement

Home appliance company Breville (ASX:BRG) has raised $94M after they completed an institutional placement of 5.5…
Forbidden Foods (ASX:FFF) - CEO, Marcus Brown

" Forbidden Foods (ASX:FFF) launches new plant-based meats under Sensory Mill brand

Forbidden Foods (ASX:FFF) has launched a new range of plant-based meats under its Sensory Mill brand.
The Sustainable Nutrition Group (ASX:TSN) - Chair, Pauline Gately

" Neale Joseph resigns as CEO and MD of The Sustainable Nutrition Group (ASX:TSN)

Neale Joseph has resigned from his role as CEO and Managing Director of The Sustainable Nutrition…