Baker McKenzie advised Australian Pharmaceutical Industries Limited (API) on its $127.4 million acquisition of the Clearskincare Clinics and products business from founder, Dr Philippa McCaffery, business partner Alarna Longes and multiple minority vendors.
Baker McKenzie lead partner, Arthur Apos stated: "The acquisition represents a growth and diversification opportunity for API and complements their existing customer footprint and retail expertise."
Clearskincare Clinics is one of Australia’s leading cosmetic skin and laser hair removal specialists. The company has invested in developing and introducing proprietary skincare products, particularly for anti-ageing and acne treatments. Clearskincare Clinics have grown from 2 clinics in June 2005 to 44 clinics currently.
"The acquisition structure facilitates the continued involvement of the founders to assist API with the integration and continued growth and development of the business." said Arthur.
API is listed on the Australian Securities Exchange and operates in the retail health and beauty industry under the following brands: Priceline, Priceline Pharmacy, Soul Pattinson and Pharmacist Advice.
Arthur was assisted by a Baker McKenzie team comprising: Chris Taylor, Sam Mossman, Toby Patten, Sabrina Chan, Emilie Fary, Chuong Nguyen, Ellen Adianto and Sinan Alnajjar.
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