Vitamins Giant Blackmores (ASX:BKL) To Take Up Pet Health Profits

October 28, 2020 05:30 PM AEDT
Team Kalkine

The Vitamins manufacturer Blackmores (ASX:BKL) is set to divest its Chinese herbal medicines business and has reiterated its faith in expanding its other pet health care market share.

The company announced on 27 October that it has agreed to divest Global Therapeutics to McPherson’s Limited (ASX:MCP) for $27 million. McPherson’s is known for its market-leading brands such as Manicare, Lady Jayne and Maseur.

Meanwhile, under this new executive regime, vitamin wellness company Blackmores has called out two focus growth areas – people’s mental health and pet vitamin supplements.

The share price quoted at $71.990, up by 12.890% with a market capitalisation at 1.23 billion on 28 October 2020.

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