Private equity firm DCP Capital will purchase a minority interest in the Canadian consumer health brand Jamieson Wellness’s Chinese operations and make a preferred share investment in the company, according to a company announcement.

DCP will inject approximately $35 million in exchange for a 33.3% share in the company’s Chinese operations. Separately, it will subscribe to $75 million worth of preferred shares in the Jamieson brand itself. Both transactions are expected to close concurrently in the second quarter of 2023, the company statement said. 

DCP Capital primarily focuses on opportunities in Asia and has backed some of China’s biggest companies, including PingAn Insurance and Mengniu Dairy. The PE firm reportedly held the first closing of its second China fund at $2.5 billion last June.  

The PE firm also led an undisclosed Series C funding round in Honest Dairy Group, the parent company of Simple Love Yogurt, it announced last March. Alongside DCP, the investment round saw participation from QY Capital, VMC, Guangzhou Finance Holdings, and Proterra Investment Partners.

Established in 1922, Jamieson is Canada’s leading health brand, which manufactures, distributes, and markets natural health products such as vitamins, minerals, supplements, and herbals.

Last November, Jamieson announced the acquisition of tangible and intangible assets from its distribution partner in China, allowing it to directly operate sales, marketing, and distribution activities in China effective from April 1, 2023.

​​“In November, we announced the pending acquisition of the assets of our Chinese distributor and the expansion of our on-the-ground resources in China,” said Mike Pilato, president and CEO of Jamieson Wellness.