Osim: Has agreed to buy a majority interest in GNC Taiwan franchise, Standard Nutrition Corporation, for $6.6m. The sale and purchase agreement was entered into with Standard Chem & Pharm.
Standard Nutrition holds the distribution, development and franchise rights to the existing GNC business including the wholesales and internet rights of GNC brand products in Taiwan. GNC Taiwan currently operates 34 GNC outlets. The proposed acquisition is to be funded by internal resources.
IIFL maintains Add with TP $2.76, citing resilient growth to continue. Counter is one of house 2012 top picks, expected to deliver robust 26% earnings CAGR over FY12-14, underpinned by its resilient business model, well capitalized balance sheet, strong vol growth and margin expansion in its food-related businesses, helped by Olam’s aggressive investments over the past 4yrs.
No comments:
Post a Comment