Musick Peeler advised Xiamen Kingdomway Group Co. Ltd. ("Kingdomway"), a publicly listed company on the Shenzhen Stock Exchange, in its purchase of a minority interest in iHerb Holdings, LLC (“iHerb”) at the price of $100 million. The parties will also form a joint venture company in Hong Kong for marketing in China. iHerb, which is based in Pasadena, California, is a global e-commerce platform and has grown into the world’s largest online health food retailer of vitamin, mineral, VMS and personal care products. It sells over 1,300 brands to 182 countries. iHerb’s website accommodates 11 languages and accepts payment in 59 different kinds of currency.
The Musick Peeler team was led by Corporate Partners Tim Chang and Gary Wollberg with assistance from Senior Counsel Sharon Chung and involved legal expertise of Business Partner Leonard Castro.