Jamieson Wellness Inc. Completes Previously Announced Distributor Transaction in China
Jamieson Wellness Inc. (“Jamieson Wellness” or the “Company”) (TSX:JWEL) announced today that it has completed the previously announced agreement to acquire operating assets from its distribution partner in China for a purchase price of approximately $26 million CAD
TORONTO--(BUSINESS WIRE)--May 4, 2023--
Jamieson Wellness Inc. (“Jamieson Wellness” or the “Company”) (TSX:JWEL) announced today that it has completed the previously announced agreement to acquire operating assets from its distribution partner in China for a purchase price of approximately $26 million CAD.
This transaction is a significant step forward in the Company’s brand expansion in China, allowing it to directly connect with consumers while operating its sales, marketing and distribution activities.
“As we continue to focus on our growth strategy in China, this transaction reinforces our commitment to accelerate our business in the world’s second largest vitamin, mineral, and supplement market,” said Mike Pilato, President and CEO of Jamieson Wellness. “Having full value-chain ownership allows us to execute our go-to-market strategy directly with our customers and have a holistic approach to reaching the Chinese consumer, who is demanding the high-quality products we produce. We are thankful to our distribution partner for its support throughout this process and look forward to working together to ensure a smooth transition.”
