Probiotec’s Sale and lease back of manufacturing facility

Arnold Bloch Leibler advised Probiotec Limited on the deal

Probiotec executed an agreement to sell the land and buildings at 79-83 and 85 Cherry Lane, Laverton North in Victoria for $24.5 million. As part of the deal, Probiotec will continue as a tenant under a 20 year triple net lease. Ken Gray and Rob Deev advised on all legal aspects as part of the sale, including advising on the lease back arrangements.

Probiotec is a leading manufacturer, marketer and distributor of a diverse, high quality range of prescription and over-the-counter pharmaceuticals and complementary medicines. Over the past week, Probiotec has announced the sale of the Impromy brand to Blackmores, the sale of a number of pharmaceutical brands to iNova Pharmaceuticals and the sale and lease back of its manufacturing facility in Laverton North.

Arnold Bloch Leibler advised ASX-listed Probiotec Limited with a team including Ken Gray (Picture) and Rob Deev.

Involved fees earner: Ken Gray – Arnold Bloch Leibler;

Law Firms: Arnold Bloch Leibler;

Clients: Probiotec Limited;