Mason Financial Holdings Ltd., a Hong Kong-listed financial services company, has agreed to acquire an 80% stake in Australian baby formula distributor Blend and Pack Pty Ltd. for A$80 million (US$61 million).
The Hong Kong firm, which teamed up with Australian consumer products exporter Wattle Health Australia Ltd. to facilitate the deal, aims to expand Blend and Pack exports to China, where consumers put a premium on Australia’s dairy products.
Mason Financial previously invested in Aiyingdao, a mother-infant-children products retailer operating in Southern and Eastern China. The investment in Blend and Pack will help create a vertically integrated supply and distribution chain, the firm said in a statement.
Upon completion, Mason Financial and Wattle Health will own 75% and 5% of Blend and Pack, respectively. Existing sharehold...
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