Hong Kong company Biostime International is buying Australian vitamin company Swisse for about $1.5 billion.
Swisse, started in Victoria by Kevin Ring in the 1970s, attracted interest from Chinese companies wanting to buy Australian clean-and-green credentials.
Fairfax Media reports the deal highlights the demand for Australian brands and products in China.
Rival Australian vitamin maker Blackmores has seen its share price go from $28 a year ago to about $130 as investors bet on increasing demand in China for reliable food supplements.
Biostime, an infant formula and milk powder producer, has more than 200 sales offices across China.
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