Business
Raphael Geminder’s $172m offer ‘utterly opportunistic’: McPherson’s – The Australian Financial Review
In an offer reminiscent of his bid for The Reject Shop, Raphael Geminder has turned his sights on perennial underperformer McPherson’s.
Chief executive Laurie McAllister resigned in December, days after the company withdrew profit guidance and two months after it raised $46 million in new capital at $2.27 a share to fund the acquisition of complementary medicine maker Global Therapeutics from Blackmores.
The profit downgrade followed lower than expected sales of Dr LeWinns through McPhersons China joint venture partner, daigou queen Livia Wangs Access Brands Management, during the Singles Day promotion on November 11.
Kin Group,…
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