Star Combo strengthens Australia-China healthcare product sales network

SYDNEY - ASX-listed Star Combo Pharma Limited is to acquire the businesses of Koala Mall Pty Ltd and Austoyou Group Pty Ltd for AUD10 million following completion of due diligence on the Ausway Group of companies.

Su Zhang, CEO of Star Combo Pharma, said the acquisitions were consistent with the Company's listing strategy of acquiring an e-commerce platform that

would advance the evolution of its business from a vitamin and supplements manufacturer and supplier to a fully-integrated Australia-China health care company with manufacturing and multiple sales channels.

Austoyou is an established Australia-China e-commerce platform that offers more than 5,000 high-demand product lines in Australian vitains, skincare and health supplements directly to Chinese health product consumers.

The acquired businesses delivered approximately AUD17 million in sales in FY18 and have shown growth of more than 20% per annum in the past two years.

 In 2018, the market in China for vitamins and health supplements was estimated to be in excess of US$5.2 billion and growing.

The Koala Mall business provides a retail brand and premium shopping experience to showcase the range of Star Combo Pharma vitamins, skincare, milk products and health supplements at a number of highly visible retail stores in Sydney.

www.starcombo.com.au (ATI).