8 August 2018
ASX Announcement - Star Combo Pharma Limited (ASX:S66)
Acquisition of Ausway Group of Companies
Star Combo Pharma Limited (ASX:S66) today announced that it has signed a Heads of Agreement to acquire the Ausway Group of companies (Ausway) being, Ausway Pharmaceutical Pty Ltd, Austoyou Group Pty Limited and Koala Mall Pty Limited.
Ausway specialise in the supply and distribution of vitamins and dietary supplements both in Australia and overseas with a particular emphasis on its e-commerce platform which sells directly into China. Ausway currently generates revenues in excess of $18 million with positive earnings.
The Managing Director of Star Combo, Mr Star Zhang said “I am very pleased to have the opportunity to potentially join the complimentary businesses of Star Combo & Ausway as there are significant synergies between the two businesses that will underpin a successful future for our company”.
The acquisition will be subject to both a formal due diligence process and approval by the Star Combo Board of Directors.
For further information:
CEO Star Combo Pharma Limited
+61 2 9756 6555
Tel: +61 2 9756 6555
Add: 171 - 177 Woodpark Rd, Smithfield NSW 2164