Japanese drinks giant Kirin Holdings has agreed to acquire 100% of the outstanding shares of natural health business, Blackmores.
As part of the AUD 1.88 billion (approx. $1.24 billion) deal, Kirin plans to commence procedures to make Blackmores a subsidiary.
The deal is part of Kirin’s vision to broaden its business beyond alcoholic beverages by contributing to “resolving social issues in the fields of people’s health and wellbeing” by “raising the number of healthy people” and contributing to the people who are involved in healthcare.
The acquisition is set to transform Kirin’s Health Science business, part of the company’s long-term vision ‘Kirin Group Vision 2027’, in which Kirin aims to “become a global leader in CSV by creating value across our world of food and beverages to pharmaceuticals”.
Through acquiring Blackmores, Kirin will grow its Health Science business’s product range and capabilities and broaden its geographic profile and growth opportunities. It will expand access to Kirin’s ingredients to hundreds of millions of consumers in the Asia-Pacific region through Blackmores’ distribution network.
The Health Science business will also benefit from Blackmores’ knowledge of consumer demands and its understanding of country-specific regulations.
In a statement, Kirin said: “By creating synergies in a wide range of business areas in which both companies operate, we will solve more of the social issues related to people’s health”.
The acquisition is subject to certain approvals, including approval of the proposed deal at a general meeting of Blackmores’ shareholders and the approval of the Australian Federal Court.
By Phoebe Fraser
Source: foodbev.com
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