Australian vitamin maker Swisse gets sold to a Hong Kong company for $1.5 billion

A Swisse two seater grand prix car is set up at Melbourne Town Hall. Darrian Traynor/Getty Images

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.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.