Morrison Foerster advised Jamieson Laboratories Ltd. and its parent company Jamieson Wellness Inc. (“Jamieson Wellness” or the “Company”) (TSX:JWEL) in the Company’s partnership with DCP Capital (“DCP”), a leading international private equity firm with a long-term track record of success in Greater China and broader Asian markets. Through this transaction, DCP contributed US$35 million in exchange for a 33% interest in the Company’s Chinese operations and made a US$75 million preferred share investment in Jamieson Wellness. This partnership with DCP is a significant step forward in the Company’s growth plans in China.
Established in 1922, “Jamieson” is the Company’s heritage brand and Canada’s #1 consumer health brand. Jamieson’s partnership with DCP will accelerate its rapidly growing business in China, and bring more world-class, high-quality vitamins, minerals, and supplements to a broader base of Chinese consumers.
In conjunction with this transaction, MoFo also advised Jamieson Laboratories Ltd. in its acquisition of the distribution operation business and assets involving Jamieson products from its previous distribution partner in China, a health product distribution company that maintained exclusive rights to distribute and market Jamieson Wellness-owned brands through cross border e-commerce, domestic retail, and online channels in China. The acquisition will provide the Company full control of the value chain and the ability to directly connect with Chinese consumers.
The MoFo team is led by Shanghai M&A/Technology Transactions Partner Chuan Sun and Beijing & Shanghai M&A Partner Paul McKenzie. Other key members include Hong Kong Tax Partner Matthew Lau, Hong Kong M&A/PE Partner Maureen Ho, Hong Kong Technology Transactions Associate Tyler Xiu, Shanghai Corporate Associates Bingye Wu and Siyu Gao, and Shanghai Senior Consultant Bilin Chen.