Sector News

Kirin Holdings to acquire Australian vitamin maker for $1.24bn

May 6, 2023
Consumer Packaged Goods

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

comments closed

Related News

May 26, 2024

Heineken Pilot looks to boost digital supply chain flexibility

Consumer Packaged Goods

Heineken is investing in its ability to “mix and match” demand planning models as it builds out a connected supply chain. The flexibility to select models for both shorter and longer horizons remains a current challenge in demand planning, Corneel Hindriks, Heineken manager of digital and technology, global planning, tells CGT.

May 26, 2024

KPS to snap up Tate & Lyle’s corn business in US$350 million deal

Consumer Packaged Goods

US-based investor KPS Capital Partners is set to acquire Tate & Lyle’s joint venture Primient, which formulates plant-based ingredients, for US$350 million. The move will complete KPS’ remaining 49.7% ownership of the company to propel Primient’s corn business by modernizing operations, supporting growth initiatives and sustainability practices.

May 26, 2024

Kimberly-Clark names Patricia Corsi Chief Growth Officer

Consumer Packaged Goods

Kimberly-Clark has selected Patricia Corsi to lead its marketing and adjacent growth strategies, succeeding Alison Lewis as chief growth officer. Corsi will be tasked with accelerating brand and commercial program success, driving long-term growth for the company.

How can we help you?

We're easy to reach