Billionaire Dennis Bastas in final stages of bidding for Australian skincare brand

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Dennis Bastas, the wealthy tycoon behind Australia’s largest generic medication supplier, is one of many parties bidding for BWX’s skincare brand Sukin and its manufacturing facility.

According to the Australian Financial Review, Greenhill & Co is selling the Sukin brand and manufacturing site after BWX collapsed in April, owing the Commonwealth Bank around $105 million.

The Greek Australian and CEO of Arrotex Pharmaceuticals is in competition with NBC who is solely interested in the Sukin brand, whilst Mr Bastas is interested in both the brand and the 10-year lease at the Clayton-based purpose-built facility.

Dennis Bastas The Australian
Dennis Bastas. Photo: The Australian.

“The only reason I get out of bed every day is for a deal I haven’t done,” Mr Bastas expressed to The Australian Financial Review last year, demonstrating his enthusiasm in striking deals.

Final bids were due two weeks ago for Sukin, but Greenhill extended the timeframe to November 13, hoping for the sale to be completed this month.

Source: Australian Financial Review

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