McPherson’s largest shareholder says a proposed $205 million takeover offer from pharmaceutical company Arrotex is “opportunistic”, particularly in light of new strategies aimed at lifting sales by as much as 50 per cent and increasing earnings five-fold in five years.

McPherson’s has given would-be suitor Arrotex a road map for growth by expanding its range of health and beauty products into new categories and new stores, taking core brands into new sales channels and accelerating overseas expansion, mainly by selling online through sites such as Alibaba, Amazon and iHerb.