Australian vitamin supplier Swisse has been sold for $1.67 billion to Hong Kong-listed firm Biostime.

It will bring a big for the family of Swisse founder Kevin Ring, who started the business from his organic bakery in Melbourne over 50 years ago.

The Ring family and the company's existing management will reportedly retain a 20 per cent ownership of the company, while the remainder will now be under Biostime’s control.

Biostime currently specialises in making infant formula and milk powder products.

Swisse has been on the rise in a big way for the last few years.

It recently signed a global licensing agreement with multinational Proctor and Gamble to push sales in Europe, Asia and Latin America.

It has also picked up an array of celebrity endorsements from sport stars including Ricky Ponting and Liz Cambage, as well as Hollywood perennials Nicole Kidman and Ellen DeGeneres.

Analysts say sale adds to the booming demand in the sector, with rival natural supplements supplier Blackmores seeing a share price rise of over 300 per cent in the past 12 months on the back of surging Chinese demand.